Cookson Peirce & Co. Inc. Lowers Stock Position in Wynn Resorts, Limited $WYNN

Cookson Peirce & Co. Inc. lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,340 shares of the casino operator’s stock after selling 4,278 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Wynn Resorts were worth $5,090,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. DAVENPORT & Co LLC purchased a new position in shares of Wynn Resorts in the first quarter valued at approximately $49,476,000. Nuveen LLC purchased a new position in shares of Wynn Resorts in the first quarter valued at approximately $41,731,000. Regal Partners Ltd raised its holdings in Wynn Resorts by 21.5% during the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock worth $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Goodman Financial Corp acquired a new stake in Wynn Resorts during the first quarter worth approximately $13,357,000. Finally, Kodai Capital Management LP raised its holdings in Wynn Resorts by 174.5% during the first quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator’s stock worth $19,959,000 after purchasing an additional 151,956 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. UBS Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $101.00 to $147.00 in a research report on Thursday, August 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research report on Tuesday, October 14th. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, September 3rd. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.64.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director owned 3,066 shares of the company’s stock, valued at $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Trading Down 0.7%

Shares of WYNN stock opened at $121.13 on Wednesday. The firm has a 50-day moving average price of $121.67 and a 200 day moving average price of $102.72. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 6.26 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio is currently 30.03%.

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.