Victory Capital Management Inc. Sells 16,008 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Victory Capital Management Inc. lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 52.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,335 shares of the casino operator’s stock after selling 16,008 shares during the period. Victory Capital Management Inc.’s holdings in Wynn Resorts were worth $1,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the second quarter valued at approximately $25,000. Blue Trust Inc. lifted its position in shares of Wynn Resorts by 556.0% during the 3rd 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 period. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at $51,000. GAMMA Investing LLC increased its position in shares of Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after purchasing an additional 166 shares during the period. Finally, Allworth Financial LP raised its stake in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WYNN. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.71.

Insider Activity

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 directly 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $93.45 on Tuesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a market cap of $10.26 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 3.28 and a beta of 1.80. The company has a 50 day simple moving average of $93.88 and a 200 day simple moving average of $87.99.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $0.99 EPS. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.