Wynn Resorts, Limited (NASDAQ:WYNN) Stock Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 9.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,575 shares of the casino operator’s stock after selling 556 shares during the period. Advisors Asset Management Inc.’s holdings in Wynn Resorts were worth $535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC acquired a new stake in Wynn Resorts in the second quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in Wynn Resorts by 556.0% in 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. Versant Capital Management Inc acquired a new stake in Wynn Resorts in the second quarter valued at approximately $51,000. GAMMA Investing LLC lifted its stake in Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares during the last quarter. Finally, Allworth Financial LP lifted 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 acquiring an additional 133 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on WYNN shares. Wells Fargo & Company reduced their target price on shares of 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. boosted their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays reduced their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley boosted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $91.67 on Thursday. The stock has a market cap of $10.07 billion, a P/E ratio of 11.30, a PEG ratio of 3.36 and a beta of 1.80. The company has a fifty day moving average price of $94.12 and a 200 day moving average price of $87.96. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $0.99 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Announces Dividend

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

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

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.