Cetera Investment Advisers Trims Stock Position in Wynn Resorts, Limited $WYNN

Cetera Investment Advisers cut its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,595 shares of the casino operator’s stock after selling 1,190 shares during the quarter. Cetera Investment Advisers’ holdings in Wynn Resorts were worth $1,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Wynn Resorts by 6.0% in the second quarter. SG Americas Securities LLC now owns 29,021 shares of the casino operator’s stock worth $2,718,000 after buying an additional 1,651 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Wynn Resorts by 5.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,584 shares of the casino operator’s stock worth $2,022,000 after acquiring an additional 1,099 shares during the last quarter. Oak Harvest Investment Services raised its holdings in shares of Wynn Resorts by 2.2% in the 2nd quarter. Oak Harvest Investment Services now owns 32,770 shares of the casino operator’s stock valued at $3,070,000 after acquiring an additional 712 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of Wynn Resorts by 50.5% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 21,920 shares of the casino operator’s stock valued at $2,052,000 after acquiring an additional 7,356 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Wynn Resorts by 4.9% during the second quarter. PNC Financial Services Group Inc. now owns 12,792 shares of the casino operator’s stock worth $1,198,000 after purchasing an additional 599 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Insider Activity at Wynn Resorts

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

Analyst Ratings Changes

Several equities research analysts have issued reports on WYNN shares. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, November 24th. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Wednesday, September 3rd. Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company initiated coverage on Wynn Resorts in a research report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.69.

Wynn Resorts Trading Down 0.8%

WYNN opened at $128.40 on Friday. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.23. The business’s 50-day moving average price is $123.45 and its 200-day moving average price is $111.59. The company has a market cap of $13.35 billion, a P/E ratio of 38.56, a P/E/G ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. Equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a $0.25 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is currently 22.37%.

Wynn Resorts 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.