Huntington National Bank Trims Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Huntington National Bank decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 30.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 541 shares of the casino operator’s stock after selling 242 shares during the quarter. Huntington National Bank’s holdings in Wynn Resorts were worth $52,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after purchasing an additional 204,852 shares during the period. Regal Partners Ltd grew its position in Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after buying an additional 174,005 shares during the period. Finally, Bamco Inc. NY increased its holdings in Wynn Resorts by 5.1% in the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after buying an additional 38,160 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WYNN shares. Barclays lowered their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company reduced their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna lifted their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $115.71.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by insiders.

Wynn Resorts Trading Down 0.3 %

Shares of WYNN opened at $90.46 on Tuesday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market capitalization of $9.93 billion, a P/E ratio of 11.15, a P/E/G ratio of 3.26 and a beta of 1.80. The firm has a 50-day moving average price of $92.39 and a 200 day moving average price of $88.17.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. Equities research analysts predict that Wynn Resorts, Limited will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

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.