Wedmont Private Capital Trims Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Wedmont Private Capital lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 37.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,455 shares of the casino operator’s stock after selling 1,490 shares during the period. Wedmont Private Capital’s holdings in Wynn Resorts were worth $261,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WYNN. Interval Partners LP grew its stake in Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after acquiring an additional 364,432 shares in the last quarter. Renaissance Technologies LLC grew its stake in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Wynn Resorts by 6,720.4% during the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after purchasing an additional 253,761 shares during the last quarter. Janus Henderson Group PLC lifted its position in Wynn Resorts by 22.2% during the first 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 last quarter. Finally, Vanguard Group Inc. lifted its position in Wynn Resorts by 1.5% during 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 purchasing an additional 166,594 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $104.75 on Monday. The firm’s 50-day moving average price is $82.92 and its 200-day moving average price is $89.28. The company has a market capitalization of $11.74 billion, a PE ratio of 14.35, a P/E/G ratio of 2.67 and a beta of 1.81. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Equities analysts anticipate that Wynn Resorts, Limited will post 5.44 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Analyst Upgrades and Downgrades

WYNN has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Susquehanna lifted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday. Stifel Nicolaus decreased their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.20.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by company 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.