Janney Montgomery Scott LLC Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Janney Montgomery Scott LLC trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 78.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,422 shares of the casino operator’s stock after selling 33,864 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Wynn Resorts were worth $812,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at $31,000. Blue Trust Inc. raised its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares during the last quarter. Allworth Financial LP increased its stake in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after purchasing an additional 900 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after purchasing an additional 950 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WYNN shares. Jefferies Financial Group cut their price target on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Macquarie reissued an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

Wynn Resorts Trading Down 1.2 %

Wynn Resorts stock opened at $80.65 on Friday. The company has a 50-day moving average price of $87.33 and a 200 day moving average price of $86.88. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market cap of $8.86 billion, a P/E ratio of 9.94, a PEG ratio of 2.50 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. As a group, analysts forecast that Wynn Resorts, Limited will post 4.69 EPS for the current year.

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.