Integrated Wealth Concepts LLC Has $582,000 Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Integrated Wealth Concepts LLC cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,070 shares of the casino operator’s stock after selling 1,111 shares during the period. Integrated Wealth Concepts LLC’s holdings in Wynn Resorts were worth $582,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WYNN. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts in the 2nd quarter worth $25,000. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 556.0% in the 3rd 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 last quarter. Allworth Financial LP boosted its position in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Wynn Resorts by 703.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after purchasing an additional 900 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after purchasing an additional 950 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Susquehanna raised their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Morgan Stanley raised their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $94.95 on Wednesday. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 3.45 and a beta of 1.78. The business has a 50-day moving average of $95.54 and a 200-day moving average of $87.79. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 4.79 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

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.