Vontobel Holding Ltd. Sells 1,634 Shares of Wynn Resorts, Limited $WYNN

Vontobel Holding Ltd. trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 28.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,066 shares of the casino operator’s stock after selling 1,634 shares during the period. Vontobel Holding Ltd.’s holdings in Wynn Resorts were worth $381,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WYNN. Dagco Inc. bought a new stake in Wynn Resorts in the first quarter worth approximately $25,000. AlphaQuest LLC bought a new stake in shares of Wynn Resorts during the 1st quarter worth $25,000. Global X Japan Co. Ltd. boosted its holdings in shares of Wynn Resorts by 120.7% during the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after buying an additional 175 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $43,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Up 3.2%

Shares of NASDAQ:WYNN opened at $116.11 on Wednesday. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.23. The company’s 50-day moving average price is $120.61 and its two-hundred day moving average price is $101.31. The firm has a market cap of $12.07 billion, a P/E ratio of 34.87, a P/E/G ratio of 5.81 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last issued its 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). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate 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 period last year, the business posted $1.12 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s dividend payout ratio (DPR) is 30.03%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director directly owned 3,066 shares in the company, valued at approximately $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $109.00 target price for the company. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Wednesday, September 3rd. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.71.

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.