Allworth Financial LP Decreases Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Allworth Financial LP decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 36.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 529 shares of the casino operator’s stock after selling 298 shares during the period. Allworth Financial LP’s holdings in Wynn Resorts were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Global X Japan Co. Ltd. raised its holdings in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock worth $35,000 after acquiring an additional 409 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in Wynn Resorts during the 4th quarter worth approximately $45,000. Garde Capital Inc. purchased a new stake in shares of Wynn Resorts in the 1st quarter valued at approximately $73,000. Finally, Mather Group LLC. raised its holdings in shares of Wynn Resorts by 32.7% in the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator’s stock valued at $75,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Wynn Resorts Trading Down 2.4%

Shares of WYNN opened at $106.77 on Friday. The company’s 50 day simple moving average is $95.40 and its 200-day simple moving average is $87.11. The firm has a market cap of $11.16 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.37. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.36.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 earnings per share. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group reiterated a “neutral” rating and set a $101.00 target price (up previously from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. Mizuho lowered their price objective on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Citigroup reiterated a “neutral” rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an “overweight” rating and a $109.00 target price on the stock. Finally, Bank of America upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.71.

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.