Comerica Bank Has $691,000 Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Comerica Bank reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) by 10.3% during the first quarter, Holdings Channel reports. The institutional investor owned 8,876 shares of the casino operator’s stock after selling 1,022 shares during the period. Comerica Bank’s holdings in Wynn Resorts were worth $691,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WYNN. UMB Bank N A MO purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $39,000. CWM LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $66,000. Evoke Wealth LLC raised its stake in shares of Wynn Resorts by 45.0% in the fourth quarter. Evoke Wealth LLC now owns 805 shares of the casino operator’s stock worth $68,000 after purchasing an additional 250 shares during the last quarter. CenterStar Asset Management LLC purchased a new stake in shares of Wynn Resorts in the first quarter worth approximately $105,000. Finally, Tobam raised its stake in shares of Wynn Resorts by 214.9% in the first quarter. Tobam now owns 1,477 shares of the casino operator’s stock worth $118,000 after purchasing an additional 1,008 shares during the last quarter. 62.72% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Trading Down 0.3 %

Shares of NASDAQ WYNN opened at $63.48 on Friday. The stock has a fifty day simple moving average of $59.87 and a two-hundred day simple moving average of $72.56. Wynn Resorts, Limited has a 1-year low of $50.20 and a 1-year high of $107.44. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of -10.95 and a beta of 2.18.

Wynn Resorts (NASDAQ:WYNNGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The casino operator reported ($1.21) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.06). The firm had revenue of $953.40 million during the quarter, compared to analysts’ expectations of $986.35 million. During the same period in the prior year, the firm earned ($2.41) earnings per share. Wynn Resorts’s revenue for the quarter was up 31.4% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post -3.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays assumed coverage on Wynn Resorts in a research note on Tuesday, June 28th. They issued an “equal weight” rating and a $62.00 price objective for the company. UBS Group set a $67.00 price target on Wynn Resorts in a research report on Monday, June 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Wynn Resorts from $123.00 to $92.00 in a research report on Wednesday, May 11th. Citigroup decreased their price target on Wynn Resorts from $92.00 to $87.50 and set a “buy” rating for the company in a research report on Tuesday, July 5th. Finally, Morgan Stanley decreased their price target on Wynn Resorts from $123.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.88.

Wynn Resorts Profile

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Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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