Panagora Asset Management Inc. Sells 2,983 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Panagora Asset Management Inc. decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 25.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,670 shares of the casino operator’s stock after selling 2,983 shares during the quarter. Panagora Asset Management Inc.’s holdings in Wynn Resorts were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of WYNN. ICA Group Wealth Management LLC bought a new stake in Wynn Resorts during the 4th quarter valued at $27,000. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts during the first quarter valued at about $37,000. Federated Hermes Inc. increased its position in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after acquiring an additional 140 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Wynn Resorts in the 4th quarter worth about $40,000. Finally, Versant Capital Management Inc bought a new position in Wynn Resorts in the 2nd quarter valued at about $51,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WYNN. Citigroup increased their price objective on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Morgan Stanley lowered their target price on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five research 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 data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $116.73.

Wynn Resorts Trading Up 1.8 %

Shares of NASDAQ WYNN opened at $76.88 on Tuesday. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.80. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a fifty day simple moving average of $80.89 and a two-hundred day simple moving average of $92.06.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. Analysts forecast that Wynn Resorts, Limited will post 5.56 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Wynn Resorts Company 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.