Hodges Capital Management Inc. Sells 58,423 Shares of Wynn Resorts, Limited $WYNN

Hodges Capital Management Inc. lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 36.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,187 shares of the casino operator’s stock after selling 58,423 shares during the period. Hodges Capital Management Inc.’s holdings in Wynn Resorts were worth $9,384,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dagco Inc. bought a new position in shares of Wynn Resorts in the 1st quarter valued at $25,000. AlphaQuest LLC bought a new stake in Wynn Resorts during the 1st quarter worth $25,000. Geneos Wealth Management Inc. increased its holdings in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Wynn Resorts in the second quarter valued at about $43,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Wynn Resorts by 30.9% during the second quarter. First Horizon Advisors Inc. now owns 640 shares of the casino operator’s stock valued at $60,000 after purchasing an additional 151 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm’s 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 sale, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. This trade 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 hyperlink. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 2.9%

Shares of NASDAQ WYNN opened at $126.14 on Monday. The firm has a market cap of $13.12 billion, a PE ratio of 37.88, a P/E/G ratio of 4.94 and a beta of 1.32. The company’s fifty day simple moving average is $123.52 and its 200 day simple moving average is $107.67. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio is presently 22.37%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday. Mizuho boosted their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a report on Monday, August 11th. Barclays raised their price target on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Zacks Research upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.58.

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.