Wynn Resorts, Limited $WYNN Stake Lessened by Ethic Inc.

Ethic Inc. lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 25.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,879 shares of the casino operator’s stock after selling 1,314 shares during the period. Ethic Inc.’s holdings in Wynn Resorts were worth $367,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dagco Inc. purchased a new stake in shares of Wynn Resorts in the first quarter valued at $25,000. AlphaQuest LLC purchased a new stake in shares of Wynn Resorts in the first quarter valued at $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Wynn Resorts in the second quarter valued at $43,000. Finally, Mather Group LLC. lifted its holdings in shares of Wynn Resorts by 32.7% in the first 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.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $120.87 on Thursday. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 4.94 and a beta of 1.31. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The company’s fifty day moving average price is $123.12 and its two-hundred day moving average price is $105.12.

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

Wynn Resorts Dividend Announcement

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

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of research analyst reports. Macquarie increased their target price on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Wednesday, September 3rd. Barclays increased their price objective on Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a report on Tuesday, October 14th. Finally, Stifel Nicolaus increased their price objective on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.64.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction 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 transaction, the director directly owned 3,066 shares of the company’s stock, valued at $383,250. This represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by insiders.

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.