Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 12.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 33,502 shares of the casino operator’s stock after selling 4,884 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Wynn Resorts were worth $3,425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WYNN. Blue Trust Inc. lifted its position in Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after buying an additional 270 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter worth $27,000. Register Financial Advisors LLC purchased a new position in shares of Wynn Resorts in the 1st quarter worth $37,000. GAMMA Investing LLC acquired a new stake in Wynn Resorts during the fourth quarter worth about $38,000. Finally, Federated Hermes Inc. raised its holdings in shares of Wynn Resorts by 47.5% in the 4th 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 period. 68.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In related news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

WYNN has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Barclays raised their target price on Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Wells Fargo & Company reduced their target price on shares of Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus raised their price objective on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Wynn Resorts Stock Up 1.1 %

Shares of WYNN traded up $0.93 during mid-day trading on Wednesday, hitting $83.44. 717,374 shares of the company’s stock were exchanged, compared to its average volume of 1,793,363. Wynn Resorts, Limited has a twelve month low of $80.02 and a twelve month high of $110.38. The firm has a fifty day moving average of $88.44 and a two-hundred day moving average of $95.72. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 11.30 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating 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 company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $0.29 earnings per share. The business’s revenue was up 30.9% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post 5.62 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.20%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.