Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,812 shares of the casino operator’s stock after selling 305 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Wynn Resorts were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after buying an additional 303,033 shares during the period. Janus Henderson Group PLC increased its position in Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after purchasing an additional 204,852 shares during the last quarter. Regal Partners Ltd raised its stake in Wynn Resorts by 5.6% during the second quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock worth $64,861,000 after purchasing an additional 38,344 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Wynn Resorts by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator’s stock valued at $50,897,000 after purchasing an additional 23,314 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Wynn Resorts by 62.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 418,070 shares of the casino operator’s stock valued at $40,085,000 after buying an additional 160,533 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’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 completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 31.78 % 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 company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on WYNN shares. Wells Fargo & Company cut their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley raised their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Down 0.5 %

Shares of WYNN opened at $91.29 on Friday. The stock’s fifty day simple moving average is $93.59 and its 200-day simple moving average is $88.13. The firm has a market capitalization of $10.03 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 3.28 and a beta of 1.80. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Analysts anticipate that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio is 12.33%.

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.