Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,366 shares of the casino operator’s stock after selling 162 shares during the period. Private Advisor Group LLC’s holdings in Wynn Resorts were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Principal Securities Inc. purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at $100,000. Avantax Advisory Services Inc. lifted its holdings in shares of Wynn Resorts by 35.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,173 shares of the casino operator’s stock worth $745,000 after purchasing an additional 2,127 shares during the period. Janney Montgomery Scott LLC boosted its position in Wynn Resorts by 20.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 56,922 shares of the casino operator’s stock valued at $5,186,000 after buying an additional 9,751 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Wynn Resorts in the 4th quarter worth approximately $1,062,000. Finally, Norges Bank acquired a new position in Wynn Resorts in the 4th quarter worth approximately $157,305,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company lowered their target price on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Macquarie reiterated an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 7th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $78.95 on Tuesday. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market cap of $8.76 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.93 and a beta of 1.80. The stock’s 50 day simple moving average is $78.74 and its 200-day simple moving average is $90.17.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

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.