Cwm LLC Lowers Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Cwm LLC decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 43.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,493 shares of the casino operator’s stock after selling 1,902 shares during the period. Cwm LLC’s holdings in Wynn Resorts were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after purchasing an additional 7,380 shares during the last quarter. Concord Investment Counsel Inc. acquired a new stake in Wynn Resorts in the 1st quarter worth about $2,461,000. UniSuper Management Pty Ltd boosted its stake in Wynn Resorts by 540.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after buying an additional 8,590 shares during the last quarter. Vanguard Group Inc. grew its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares during the period. Finally, OPTIMAS CAPITAL Ltd acquired a new position in shares of Wynn Resorts during the 1st quarter valued at about $3,394,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WYNN shares. Wells Fargo & Company lifted their price target on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Macquarie reiterated an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group reduced their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. decreased their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $115.87.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $99.40 on Wednesday. The firm has a market cap of $11.14 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.57 and a beta of 1.81. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm’s 50-day simple moving average is $85.90 and its 200-day simple moving average is $89.07.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results 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 for the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, equities analysts predict that Wynn Resorts, Limited will post 5.42 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

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.