Allspring Global Investments Holdings LLC Sells 231 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Allspring Global Investments Holdings LLC trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,751 shares of the casino operator’s stock after selling 231 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wynn Resorts were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in shares of Wynn Resorts by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after acquiring an additional 109 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC raised its stake in Wynn Resorts by 4.3% during the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,630 shares of the casino operator’s stock worth $323,000 after acquiring an additional 150 shares in the last quarter. Mystic Asset Management Inc. increased its stake in shares of Wynn Resorts by 1.6% in the third quarter. Mystic Asset Management Inc. now owns 11,131 shares of the casino operator’s stock valued at $1,029,000 after buying an additional 175 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Wynn Resorts by 2.6% in the third quarter. Teacher Retirement System of Texas now owns 7,934 shares of the casino operator’s stock valued at $733,000 after buying an additional 198 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Wynn Resorts by 0.9% in the fourth quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock valued at $2,568,000 after buying an additional 241 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred 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 transaction, 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 available at this hyperlink. In other news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the sale, the director now owns 522 shares in the company, valued at approximately $54,898.74. The disclosure for this sale can be found here. Insiders sold a total of 26,578 shares of company stock valued at $2,850,282 in the last quarter. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Macquarie lifted their price objective on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Susquehanna lifted their price objective on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Wells Fargo & Company boosted their target price on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley boosted their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.43.

Wynn Resorts Stock Performance

Shares of WYNN opened at $96.60 on Friday. The stock has a 50 day simple moving average of $101.66 and a 200 day simple moving average of $95.06. Wynn Resorts, Limited has a 52-week low of $81.65 and a 52-week high of $117.86. The firm has a market capitalization of $10.83 billion, a PE ratio of 16.15 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm posted ($1.23) EPS. The business’s revenue was up 83.1% on a year-over-year basis. Equities research analysts predict that Wynn Resorts, Limited will post 5.37 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. Shareholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio (DPR) is currently 16.72%.

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.