Huntington National Bank Trims Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Huntington National Bank reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 30.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 541 shares of the casino operator’s stock after selling 242 shares during the quarter. Huntington National Bank’s holdings in Wynn Resorts were worth $52,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WYNN. Vanguard Group Inc. boosted its position 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. Renaissance Technologies LLC grew its stake in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after purchasing an additional 204,852 shares during the period. Regal Partners Ltd raised its position in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in shares of Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after buying an additional 38,160 shares during the period. 68.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WYNN has been the subject of several recent research reports. UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barclays cut their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 0.3 %

Shares of Wynn Resorts stock opened at $90.46 on Tuesday. The firm has a market capitalization of $9.93 billion, a P/E ratio of 11.15, a PEG ratio of 3.26 and a beta of 1.80. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a 50 day moving average price of $92.39 and a 200 day moving average price of $88.17.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.11%. Wynn Resorts’s payout ratio is presently 12.33%.

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.