Wynn Resorts, Limited (NASDAQ:WYNN) Position Cut by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.2% in the 4th quarter, Holdings Channel reports. The fund owned 3,511 shares of the casino operator’s stock after selling 313 shares during the period. Atria Wealth Solutions Inc.’s holdings in Wynn Resorts were worth $320,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WYNN. Blue Trust Inc. raised its stake in Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Wynn Resorts in the fourth quarter worth about $38,000. Federated Hermes Inc. grew its position in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after buying an additional 140 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Wynn Resorts by 1,083.8% during the 4th quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock valued at $40,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity

In related news, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares in the company, valued at $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Julie Cameron-Doe sold 6,383 shares of the 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 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 filing with the SEC, which is available through the SEC website. Also, Director Patricia Mulroy sold 960 shares of Wynn Resorts 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 completion of the transaction, the director now directly owns 522 shares in the company, valued at $54,898.74. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock worth $2,850,282 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $97.23 on Wednesday. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $113.50. The company has a market cap of $10.90 billion, a PE ratio of 16.26 and a beta of 1.91. The firm has a 50 day simple moving average of $100.38 and a 200 day simple moving average of $95.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. Wynn Resorts’s revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. On average, equities analysts predict that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Mizuho began coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target on the stock. UBS Group cut their price objective on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Barclays boosted their price target on shares of Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Bank Of America (Bofa) raised their price objective on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.43.

Wynn Resorts Company 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.