City State Bank Sells 155 Shares of Wynn Resorts, Limited $WYNN

City State Bank reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,375 shares of the casino operator’s stock after selling 155 shares during the quarter. City State Bank’s holdings in Wynn Resorts were worth $129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AlphaQuest LLC purchased a new position in shares of Wynn Resorts in the 1st quarter worth $25,000. Dagco Inc. purchased a new stake in Wynn Resorts in the 1st quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its holdings in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Wynn Resorts in the 2nd quarter worth approximately $43,000. Finally, Mather Group LLC. increased its holdings in Wynn Resorts by 32.7% in the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator’s stock worth $75,000 after acquiring an additional 221 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on WYNN. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and increased their price objective for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a report on Tuesday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Mizuho increased their price objective on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold 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 target price of $129.64.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $125.57 on Friday. The company has a market capitalization of $13.06 billion, a P/E ratio of 37.71, a P/E/G ratio of 5.13 and a beta of 1.31. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The stock has a 50 day moving average price of $122.42 and a 200-day moving average price of $103.91.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s dividend payout ratio is currently 30.03%.

About Wynn Resorts

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.