The Manufacturers Life Insurance Company Sells 866 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

The Manufacturers Life Insurance Company decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 76,293 shares of the casino operator’s stock after selling 866 shares during the period. The Manufacturers Life Insurance Company’s holdings in Wynn Resorts were worth $7,315,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after buying an additional 120 shares during the last quarter. Allworth Financial LP boosted its holdings 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 in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after acquiring an additional 149 shares during the period. GAMMA Investing LLC lifted its holdings in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares during the period. Finally, Prospera Financial Services Inc raised its position in shares of Wynn Resorts by 4.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays reduced their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Four research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $94.79 on Thursday. The firm has a market capitalization of $10.41 billion, a PE ratio of 11.68, a P/E/G ratio of 3.53 and a beta of 1.78. The stock has a 50-day simple moving average of $95.41 and a two-hundred day simple moving average of $87.82. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Wynn Resorts’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 4.78 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

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.