Commonwealth Equity Services LLC Sells 1,162 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Commonwealth Equity Services LLC trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,268 shares of the casino operator’s stock after selling 1,162 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Wynn Resorts were worth $2,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Wynn Resorts in the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management raised its position in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after purchasing an additional 122 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Insider Activity

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This represents a 0.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 38,700 shares of company stock valued at $3,427,943 in the last 90 days. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

WYNN opened at $85.83 on Thursday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a 50-day moving average of $85.93 and a 200 day moving average of $89.10. The firm has a market cap of $9.11 billion, a P/E ratio of 20.39, a PEG ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Wynn Resorts’s payout ratio is presently 23.75%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WYNN. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Morgan Stanley decreased their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Stifel Nicolaus raised their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Company 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.