Sequoia Financial Advisors LLC Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Sequoia Financial Advisors LLC decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 99.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,811 shares of the casino operator’s stock after selling 502,708 shares during the period. Sequoia Financial Advisors LLC’s holdings in Wynn Resorts were worth $347,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. grew its position in Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 1,083.8% in the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock valued at $40,000 after acquiring an additional 401 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Wynn Resorts during the first quarter valued at approximately $45,000. Finally, RVW Wealth LLC bought a new stake in Wynn Resorts during the third quarter worth $47,000. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $96.10 on Friday. The business’s fifty day moving average is $102.49 and its 200 day moving average is $94.84. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 16.07 and a beta of 1.93. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.76. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company’s revenue was up 83.1% on a year-over-year basis. During the same period in the prior year, the business posted ($1.23) earnings per share. Equities analysts predict that Wynn Resorts, Limited will post 5.38 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Wynn Resorts’s dividend payout ratio (DPR) is currently 16.72%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WYNN shares. Wells Fargo & Company upped their price objective on Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Macquarie increased their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. UBS Group decreased their target price on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Bank Of America (Bofa) upped their price target on Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $121.36.

Insider Transactions at Wynn Resorts

In related news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the sale, the chief financial officer now owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is currently owned by company insiders.

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.