Charles Schwab Investment Management Inc. Has $77.88 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Charles Schwab Investment Management Inc. decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 932,660 shares of the casino operator’s stock after selling 19,782 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.88% of Wynn Resorts worth $77,877,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WYNN. American Assets Inc. grew its position in shares of Wynn Resorts by 52.2% during the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator’s stock worth $879,000 after buying an additional 3,500 shares during the period. Treasurer of the State of North Carolina increased its stake in Wynn Resorts by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 44,918 shares of the casino operator’s stock valued at $3,870,000 after purchasing an additional 280 shares in the last quarter. Sterling Capital Management LLC increased its stake in Wynn Resorts by 52.9% in the fourth quarter. Sterling Capital Management LLC now owns 5,724 shares of the casino operator’s stock valued at $493,000 after purchasing an additional 1,981 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts in the fourth quarter valued at approximately $45,000. Finally, Jump Financial LLC increased its stake in Wynn Resorts by 122.4% in the fourth quarter. Jump Financial LLC now owns 5,127 shares of the casino operator’s stock valued at $442,000 after purchasing an additional 2,822 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

WYNN opened at $111.82 on Thursday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $112.57. The firm has a market capitalization of $11.63 billion, a PE ratio of 33.58, a PEG ratio of 5.98 and a beta of 1.41. The business’s 50-day simple moving average is $101.24 and its 200 day simple moving average is $90.23.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the company posted $1.12 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts’s dividend payout ratio is 30.03%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on WYNN shares. Jefferies Financial Group raised their price objective on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Wednesday, May 7th. Macquarie raised their price target on Wynn Resorts from $110.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Citigroup reaffirmed a “neutral” rating and set a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group began coverage on shares of Wynn Resorts in a report on Monday, July 7th. They issued a “buy” rating and a $122.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.64.

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.