Advisors Asset Management Inc. Sells 251 Shares of Wynn Resorts, Limited $WYNN

Advisors Asset Management Inc. trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,111 shares of the casino operator’s stock after selling 251 shares during the period. Advisors Asset Management Inc.’s holdings in Wynn Resorts were worth $343,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of Wynn Resorts in the 1st quarter worth $25,000. Dagco Inc. bought a new position in shares of Wynn Resorts in the 1st quarter worth $25,000. Global X Japan Co. Ltd. raised its position in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Wynn Resorts by 3,408.3% in 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. Finally, Garde Capital Inc. bought a new position in shares of Wynn Resorts in the 1st quarter worth $73,000. 88.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WYNN. Macquarie boosted 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. Jefferies Financial Group boosted their target price on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Mizuho boosted their target price on Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Citigroup restated a “neutral” rating and set a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Finally, Barclays boosted their target price on Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Fourteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.47.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $123.86 on Friday. The business’s 50-day simple moving average is $113.33 and its two-hundred day simple moving average is $95.16. The company has a market cap of $12.88 billion, a PE ratio of 37.20, a PEG ratio of 6.32 and a beta of 1.37. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $128.53.

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

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s payout ratio is presently 30.03%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

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.