Wynn Resorts, Limited (NASDAQ:WYNN) Stake Reduced by True North Advisors LLC

True North Advisors LLC decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the casino operator’s stock after selling 224 shares during the period. True North Advisors LLC’s holdings in Wynn Resorts were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in WYNN. International Assets Investment Management LLC purchased a new position in Wynn Resorts in the 2nd quarter worth about $25,000. Register Financial Advisors LLC purchased a new stake in shares of Wynn Resorts in the first quarter worth approximately $37,000. Neo Ivy Capital Management purchased a new position in Wynn Resorts during the fourth quarter valued at approximately $40,000. Versant Capital Management Inc acquired a new position in Wynn Resorts in the 2nd quarter valued at approximately $51,000. Finally, Covestor Ltd lifted its position in Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after buying an additional 506 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Down 0.7 %

Shares of WYNN stock opened at $102.15 on Wednesday. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 2.72 and a beta of 1.81. The firm’s 50 day moving average is $81.43 and its 200-day moving average is $89.20. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is presently 13.70%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several recent research reports. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Morgan Stanley raised Wynn Resorts from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $97.00 to $104.00 in a research report on Friday, September 27th. Jefferies Financial Group lowered their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus reduced their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.20.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.

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.