Commonwealth Equity Services LLC Sells 2,884 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Commonwealth Equity Services LLC lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,570 shares of the casino operator’s stock after selling 2,884 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Wynn Resorts were worth $3,023,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its stake in Wynn Resorts by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after purchasing an additional 109 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Wynn Resorts by 8.5% during the first quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock worth $145,000 after purchasing an additional 111 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 36.3% during the first quarter. Venturi Wealth Management LLC now owns 597 shares of the casino operator’s stock worth $61,000 after purchasing an additional 159 shares during the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of Wynn Resorts by 3.4% during the first quarter. NBC Securities Inc. now owns 6,125 shares of the casino operator’s stock worth $626,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on WYNN shares. Wells Fargo & Company reduced their price target on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating on the stock in a report on Tuesday. Stifel Nicolaus upped their target price on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Barclays increased their price target on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Finally, Citigroup upped their target price on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.15.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 1.0 %

Shares of WYNN stock traded down $0.83 on Friday, hitting $86.45. 715,871 shares of the stock were exchanged, compared to its average volume of 1,775,690. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $112.25. The firm’s 50 day moving average is $92.97 and its two-hundred day moving average is $96.75. The firm has a market capitalization of $9.69 billion, a PE ratio of 11.96 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue was up 30.9% compared to the same quarter last year. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.63 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is currently 13.70%.

About Wynn Resorts

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.