Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,162 shares of the casino operator’s stock after selling 2,899 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Wynn Resorts were worth $1,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WYNN. New Wave Wealth Advisors LLC acquired a new stake in Wynn Resorts in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new position in Wynn Resorts during the third quarter valued at about $31,000. Spire Wealth Management boosted its position in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the period. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after purchasing an additional 133 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of “Buy” and a consensus target price of $120.58.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $90.76 on Monday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a fifty day moving average of $85.31 and a 200-day moving average of $87.42. The stock has a market capitalization of $9.66 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.