PNC Financial Services Group Inc. Decreases Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

PNC Financial Services Group Inc. trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,704 shares of the casino operator’s stock after selling 166 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Wynn Resorts were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Wynn Resorts during the 3rd quarter worth about $202,000. Prospera Financial Services Inc raised its position in Wynn Resorts by 4.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after purchasing an additional 181 shares during the period. Thrivent Financial for Lutherans lifted its stake in Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after purchasing an additional 3,850 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Wynn Resorts by 7.7% during the third quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator’s stock valued at $1,366,000 after buying an additional 1,017 shares during the period. Finally, Regal Partners Ltd grew its stake in shares of 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 last quarter. Institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

WYNN has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barclays lowered their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lowered 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. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Down 0.2 %

Wynn Resorts stock opened at $91.67 on Thursday. The firm has a market cap of $10.07 billion, a P/E ratio of 11.44, a P/E/G ratio of 3.36 and a beta of 1.80. The business has a fifty day moving average of $94.12 and a two-hundred day moving average of $87.96. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. Equities analysts expect that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. Wynn Resorts’s payout ratio is 12.33%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts 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 value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by 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.