Amalgamated Bank Sells 12,876 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Amalgamated Bank lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 40.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,970 shares of the casino operator’s stock after selling 12,876 shares during the period. Amalgamated Bank’s holdings in Wynn Resorts were worth $1,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Wealth Partners LLC raised its stake in shares of Wynn Resorts by 5.8% during the third quarter. Private Wealth Partners LLC now owns 5,040 shares of the casino operator’s stock valued at $483,000 after acquiring an additional 275 shares in the last quarter. Lmcg Investments LLC bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $3,772,000. Americana Partners LLC bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $211,000. Hedges Asset Management LLC raised its stake in shares of Wynn Resorts by 20.6% during the third quarter. Hedges Asset Management LLC now owns 29,015 shares of the casino operator’s stock valued at $2,782,000 after acquiring an additional 4,950 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in shares of Wynn Resorts by 3.4% during the third quarter. J.W. Cole Advisors Inc. now owns 12,030 shares of the casino operator’s stock valued at $1,153,000 after acquiring an additional 401 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

WYNN has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Barclays cut their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Trading Down 1.1 %

NASDAQ:WYNN opened at $85.50 on Wednesday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The firm has a fifty day simple moving average of $91.35 and a 200-day simple moving average of $88.29. The company has a market capitalization of $9.39 billion, a P/E ratio of 10.54, a PEG ratio of 2.41 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 4.9 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. Wynn Resorts’s payout ratio is currently 12.33%.

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.