Bank of New York Mellon Corp Cuts Stock Holdings in Wynn Resorts, Limited $WYNN

Bank of New York Mellon Corp trimmed its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,314 shares of the casino operator’s stock after selling 30,068 shares during the quarter. Bank of New York Mellon Corp owned 0.45% of Wynn Resorts worth $47,963,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WYNN. Capital Advisors Ltd. LLC increased its position in shares of Wynn Resorts by 433,217.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock valued at $8,864,000 after purchasing an additional 73,647 shares during the last quarter. Westend Capital Management LLC purchased a new stake in shares of Wynn Resorts during the 4th quarter worth $12,084,000. SG Americas Securities LLC grew its stake in shares of Wynn Resorts by 224.1% during the fourth quarter. SG Americas Securities LLC now owns 82,859 shares of the casino operator’s stock worth $9,970,000 after purchasing an additional 57,293 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Wynn Resorts by 97.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock worth $2,697,000 after purchasing an additional 11,067 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Wynn Resorts by 46.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock valued at $92,676,000 after buying an additional 243,179 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $96.92 on Friday. The business has a 50 day moving average price of $100.21 and a 200 day moving average price of $104.96. The company has a market capitalization of $10.06 billion, a P/E ratio of 28.93, a PEG ratio of 0.95 and a beta of 0.99. Wynn Resorts, Limited has a 1-year low of $92.52 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts, Limited will post 4.52 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is 29.85%.

Analysts Set New Price Targets

A number of research firms have weighed in on WYNN. Citigroup cut their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Jefferies Financial Group reduced their price objective on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, The Goldman Sachs Group set a $120.00 target price on shares of Wynn Resorts in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.94.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.