Wynn Resorts, Limited $WYNN Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 909,535 shares of the casino operator’s stock after selling 23,125 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.87% of Wynn Resorts worth $85,196,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WYNN. AlphaQuest LLC acquired a new stake in shares of Wynn Resorts in the 1st quarter worth $25,000. Dagco Inc. purchased a new stake in shares of Wynn Resorts in the first quarter valued at about $25,000. MTM Investment Management LLC acquired a new stake in Wynn Resorts during the second quarter worth about $31,000. Geneos Wealth Management Inc. raised its stake in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in Wynn Resorts during the second quarter worth about $43,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Stock Down 0.8%

NASDAQ:WYNN opened at $128.40 on Friday. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $134.23. The stock’s fifty day moving average is $123.45 and its two-hundred day moving average is $111.59. The stock has a market capitalization of $13.35 billion, a price-to-earnings ratio of 38.56, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data 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). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. Wynn Resorts’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s dividend payout ratio is currently 22.37%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

WYNN has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, November 24th. The Goldman Sachs Group upped their price objective on Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $136.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group lifted their target price on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research report on Monday, August 11th. Finally, Wells Fargo & Company assumed coverage on Wynn Resorts in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $134.69.

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.