Hedges Asset Management LLC Sells 200 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Hedges Asset Management LLC lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,815 shares of the casino operator’s stock after selling 200 shares during the period. Wynn Resorts comprises 1.6% of Hedges Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Hedges Asset Management LLC’s holdings in Wynn Resorts were worth $2,483,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the third quarter worth $31,000. Blue Trust Inc. raised its holdings in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. Allworth Financial LP raised its holdings in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after purchasing an additional 900 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after purchasing an additional 950 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WYNN. Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Jefferies Financial Group cut their price target on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Three investment 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.23.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $85.08 on Friday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The business has a 50 day simple moving average of $88.77 and a 200 day simple moving average of $86.91. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 2.52 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data 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). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. On average, analysts predict that Wynn Resorts, Limited will post 4.75 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. 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 1.18%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

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.