IFP Advisors Inc Trims Stock Position in Wynn Resorts, Limited $WYNN

IFP Advisors Inc lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,496 shares of the casino operator’s stock after selling 208 shares during the period. IFP Advisors Inc’s holdings in Wynn Resorts were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its holdings in Wynn Resorts by 1.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after buying an additional 132 shares during the last quarter. Navalign LLC raised its holdings in shares of Wynn Resorts by 1.8% during the first quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock valued at $689,000 after acquiring an additional 144 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Wynn Resorts by 7.2% in the first quarter. Fifth Third Bancorp now owns 2,341 shares of the casino operator’s stock valued at $195,000 after acquiring an additional 158 shares in the last quarter. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after acquiring an additional 175 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares in the company, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WYNN. Mizuho increased their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $123.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and raised their price target for the stock from $101.00 to $147.00 in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research note on Tuesday. Finally, Barclays increased their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.64.

Wynn Resorts Trading Down 1.8%

Shares of WYNN opened at $115.92 on Friday. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $134.23. The firm has a market capitalization of $12.05 billion, a P/E ratio of 34.81, a P/E/G ratio of 6.10 and a beta of 1.31. The firm has a 50-day moving average price of $121.00 and a 200 day moving average price of $101.65.

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

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts’s payout ratio is presently 30.03%.

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.