Delta Investment Management LLC Sells 1,320 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Delta Investment Management LLC reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the casino operator’s stock after selling 1,320 shares during the period. Delta Investment Management LLC’s holdings in Wynn Resorts were worth $310,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $36,000. Spire Wealth Management lifted its position in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $45,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after purchasing an additional 122 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WYNN has been the subject of several research reports. Barclays lowered their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Bank of America raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Wednesday, May 7th. Citigroup raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 7th. Finally, Macquarie reissued an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.92.

Insiders Place Their Bets

In other Wynn Resorts news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the purchase, the insider now directly owns 13,000,000 shares of the company’s stock, valued at $879,060,000. The trade was a 0.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders purchased 416,500 shares of company stock valued at $29,254,547. Insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 2.9%

NASDAQ WYNN opened at $93.77 on Wednesday. The company has a fifty day simple moving average of $81.89 and a two-hundred day simple moving average of $85.73. The stock has a market cap of $9.80 billion, a P/E ratio of 22.27, a P/E/G ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 EPS. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.25 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. Wynn Resorts’s dividend payout ratio is currently 27.78%.

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.