abrdn plc Reduces Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

abrdn plc cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 11.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,988 shares of the casino operator’s stock after selling 4,258 shares during the quarter. abrdn plc’s holdings in Wynn Resorts were worth $2,932,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. IHT Wealth Management LLC increased its stake in Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after purchasing an additional 112 shares in the last quarter. Fifth Third Bancorp grew its holdings in Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after purchasing an additional 119 shares during the period. Allworth Financial LP boosted its position in shares of Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares during the period. Prospera Financial Services Inc raised its stake in Wynn Resorts by 4.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock valued at $443,000 after purchasing an additional 181 shares during the period. Finally, Wedmont Private Capital increased its holdings in Wynn Resorts by 7.5% in the 4th quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator’s stock valued at $214,000 after acquiring an additional 183 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 0.1 %

Shares of NASDAQ WYNN opened at $80.58 on Monday. The company has a 50-day moving average of $87.06 and a 200 day moving average of $86.93. The stock has a market cap of $8.85 billion, a PE ratio of 9.94, a P/E/G ratio of 2.32 and a beta of 1.76. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WYNN shares. Macquarie reaffirmed an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group decreased their price objective on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. Finally, Barclays cut their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.