Citigroup Inc. Has $10.67 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Citigroup Inc. cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 23.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,295 shares of the casino operator’s stock after selling 33,187 shares during the period. Citigroup Inc.’s holdings in Wynn Resorts were worth $10,671,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eagle Asset Management Inc. bought a new position in Wynn Resorts in the third quarter valued at approximately $58,486,000. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Wynn Resorts by 6,720.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after buying an additional 253,761 shares in the last quarter. Regal Partners Ltd raised its holdings in shares of Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after buying an additional 174,005 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $13,590,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on WYNN shares. Morgan Stanley boosted their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Macquarie reiterated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna boosted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Four 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Stock Down 0.2 %

WYNN stock opened at $91.67 on Friday. The company’s fifty day simple moving average is $94.38 and its 200 day simple moving average is $87.98. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 3.30 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business 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%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS. Research analysts expect that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. Wynn Resorts’s dividend 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.