Charles Schwab Investment Management Inc. Decreases Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Charles Schwab Investment Management Inc. lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 947,410 shares of the casino operator’s stock after selling 5,335 shares during the period. Charles Schwab Investment Management Inc. owned 0.86% of Wynn Resorts worth $90,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WYNN. Regal Partners Ltd raised its stake in shares of Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after purchasing an additional 19,889 shares during the last quarter. Crystal Rock Capital Management acquired a new stake in shares of Wynn Resorts in the 3rd quarter worth $719,000. MBB Public Markets I LLC purchased a new position in Wynn Resorts during the 2nd quarter worth $698,000. Finally, Virtu Financial LLC acquired a new position in Wynn Resorts during the 1st quarter valued at about $1,248,000. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $91.86 on Wednesday. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 3.28 and a beta of 1.80. The firm’s 50 day simple moving average is $93.88 and its 200-day simple moving average is $87.99. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. Analysts anticipate that Wynn Resorts, Limited will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued 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 yield of 1.09%. Wynn Resorts’s payout ratio is 12.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WYNN shares. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus lowered their target price 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. Barclays decreased their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Susquehanna raised their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $115.71.

Insiders Place Their Bets

In other 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 transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 31.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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.