PNC Financial Services Group Inc. Sells 166 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

PNC Financial Services Group Inc. trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,704 shares of the casino operator’s stock after selling 166 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wynn Resorts were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings 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 valued at $120,386,000 after acquiring an additional 303,033 shares during the period. Regal Partners Ltd lifted its stake in shares of Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Wynn Resorts by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator’s stock worth $50,897,000 after buying an additional 23,314 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Wynn Resorts by 62.3% during the third quarter. Sequoia Financial Advisors LLC now owns 418,070 shares of the casino operator’s stock valued at $40,085,000 after buying an additional 160,533 shares during the period. Finally, Hodges Capital Management Inc. increased its holdings in Wynn Resorts by 6.3% during the second quarter. Hodges Capital Management Inc. now owns 231,004 shares of the casino operator’s stock valued at $20,675,000 after buying an additional 13,766 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $91.67 on Thursday. The firm’s fifty day moving average is $94.12 and its two-hundred day moving average is $87.96. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a market cap of $10.07 billion, a P/E ratio of 11.44, a P/E/G ratio of 3.36 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued its 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 negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts forecast that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company’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 sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

WYNN has been the topic of several analyst reports. Susquehanna lifted their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Barclays cut their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.71.

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.