Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 34.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,099 shares of the casino operator’s stock after selling 1,093 shares during the quarter. First City Capital Management Inc.’s holdings in Wynn Resorts were worth $201,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at $25,000. Blue Trust Inc. boosted its holdings 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 worth $49,000 after purchasing an additional 467 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts during the second quarter worth approximately $51,000. Covestor Ltd grew its position in Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WYNN. Barclays dropped their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Wells Fargo & Company reduced 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 note on Tuesday, November 5th. Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Susquehanna boosted their price target 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.71.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’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 sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their position. The sale 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 Stock Down 0.3 %

WYNN opened at $90.46 on Tuesday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 3.26 and a beta of 1.80. The business has a 50 day moving average of $92.39 and a 200-day moving average of $88.17.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. As a group, analysts expect that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

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.