Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Commerce Bank

Commerce Bank cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 35.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,403 shares of the casino operator’s stock after selling 5,172 shares during the quarter. Commerce Bank’s holdings in Wynn Resorts were worth $902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of WYNN. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of Wynn Resorts by 556.0% during the 3rd 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 bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $51,000. GAMMA Investing LLC raised its position in shares of Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after purchasing an additional 166 shares during the period. Finally, Allworth Financial LP raised its position in shares of Wynn Resorts by 17.5% during the third 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 period. 68.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WYNN shares. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus cut their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. 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. Finally, Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. Four 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Trading Down 0.5 %

Shares of NASDAQ WYNN opened at $91.29 on Monday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The business has a fifty day simple moving average of $93.59 and a 200 day simple moving average of $88.02. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 3.28 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts anticipate that Wynn Resorts, Limited will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. Wynn Resorts’s payout ratio 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.