Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 947,410 shares of the casino operator’s stock after selling 5,335 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Wynn Resorts were worth $90,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WYNN. Fifth Third Bancorp raised its stake in Wynn Resorts by 8.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after purchasing an additional 120 shares during the last quarter. Allworth Financial LP raised its position in shares of Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock worth $496,000 after buying an additional 149 shares in the last quarter. Garde Capital Inc. grew its stake in Wynn Resorts by 10.1% during the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after acquiring an additional 160 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays dropped their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Susquehanna upped their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $91.86 on Wednesday. The company has a market capitalization of $10.09 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 3.28 and a beta of 1.80. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a 50 day moving average price of $93.88 and a 200 day moving average price of $87.99.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.

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.