Wynn Resorts, Limited (NASDAQ:WYNN) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 62.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 418,070 shares of the casino operator’s stock after acquiring an additional 160,533 shares during the quarter. Sequoia Financial Advisors LLC owned 0.37% of Wynn Resorts worth $40,085,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the period. Renaissance Technologies LLC grew its stake in 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 acquiring an additional 303,033 shares during the period. Janus Henderson Group PLC increased its holdings in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Bamco Inc. NY raised its position in Wynn Resorts by 5.1% during the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after acquiring an additional 38,160 shares during the period. Finally, Regal Partners Ltd lifted its holdings in Wynn Resorts by 5.6% during the second quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock valued at $64,861,000 after purchasing an additional 38,344 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on 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 directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Susquehanna increased their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Macquarie reaffirmed an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 7th. Barclays increased their price objective on Wynn Resorts from $108.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Wynn Resorts Stock Up 0.5 %

Shares of Wynn Resorts stock traded up $0.45 during mid-day trading on Tuesday, hitting $98.82. The stock had a trading volume of 515,421 shares, compared to its average volume of 2,131,244. The firm has a market cap of $11.07 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.81. The firm has a 50-day moving average of $85.90 and a two-hundred day moving average of $89.07. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned $0.91 EPS. Wynn Resorts’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Wynn Resorts, Limited will post 5.42 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Wynn Resorts’s dividend payout ratio is currently 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.