Wedbush Securities Inc. Decreases Stock Position in Wynn Resorts, Limited $WYNN

Wedbush Securities Inc. decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 23.3% during the second quarter, Holdings Channel.com reports. The fund owned 2,710 shares of the casino operator’s stock after selling 825 shares during the period. Wedbush Securities Inc.’s holdings in Wynn Resorts were worth $254,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Resolute Capital Asset Partners LLC acquired a new position in Wynn Resorts during the 1st quarter valued at approximately $3,758,000. Strs Ohio purchased a new position in Wynn Resorts in the 1st quarter worth $7,515,000. Oak Harvest Investment Services lifted its position in Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock worth $2,677,000 after acquiring an additional 5,511 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in Wynn Resorts by 116.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator’s stock worth $1,209,000 after acquiring an additional 7,820 shares during the period. Finally, Bayforest Capital Ltd acquired a new position in shares of Wynn Resorts in the first quarter valued at about $365,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.0%

Wynn Resorts stock opened at $125.07 on Thursday. The firm has a market capitalization of $13.00 billion, a P/E ratio of 37.52, a P/E/G ratio of 4.94 and a beta of 1.32. The stock’s fifty day simple moving average is $123.57 and its 200-day simple moving average is $108.43. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s dividend payout ratio is currently 22.37%.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director directly owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WYNN shares. Barclays upped their target price on Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Mizuho increased their price objective on shares of Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday. Macquarie boosted their target price on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus increased their price target on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, Jefferies Financial Group lifted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

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.