Janney Montgomery Scott LLC Sells 23,076 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Janney Montgomery Scott LLC lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 34.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 43,286 shares of the casino operator’s stock after selling 23,076 shares during the period. Janney Montgomery Scott LLC’s holdings in Wynn Resorts were worth $4,150,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Wynn Resorts during the 2nd quarter valued at about $25,000. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after acquiring an additional 467 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $51,000. Covestor Ltd lifted its holdings in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Trading Down 3.3 %

Shares of WYNN stock opened at $84.30 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market cap of $9.26 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.80. The company’s fifty day moving average price is $90.96 and its 200-day moving average price is $88.49.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.1 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.19%. Wynn Resorts’s payout ratio is 12.33%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WYNN. Barclays lowered their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.

Wynn Resorts 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.