Perigon Wealth Management LLC Sells 3,003 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Perigon Wealth Management LLC decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 50.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,926 shares of the casino operator’s stock after selling 3,003 shares during the period. Perigon Wealth Management LLC’s holdings in Wynn Resorts were worth $241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts during the third quarter valued at $31,000. Blue Trust Inc. raised its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares during the last quarter. Allworth Financial LP raised its stake in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after acquiring an additional 900 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Wynn Resorts by 207.4% during the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after acquiring an additional 950 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $86.85 on Monday. The stock has a market capitalization of $9.54 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.42 and a beta of 1.77. The company has a 50-day moving average price of $88.12 and a 200-day moving average price of $86.97. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) 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 business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WYNN. Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Barclays decreased their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley increased their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $117.23.

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.