Shellback Capital LP Sells 60,000 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Shellback Capital LP trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 44.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the casino operator’s stock after selling 60,000 shares during the period. Shellback Capital LP’s holdings in Wynn Resorts were worth $6,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Wynn Resorts by 5.6% during the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. acquired a new stake in Wynn Resorts during the 1st quarter worth approximately $2,461,000. CIBC Private Wealth Group LLC bought a new position in Wynn Resorts in the fourth quarter valued at approximately $1,376,000. UniSuper Management Pty Ltd boosted its holdings in shares of Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 8,590 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WYNN shares. Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Morgan Stanley upgraded Wynn Resorts from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $97.00 to $104.00 in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Macquarie reaffirmed an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.20.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $91.03 on Friday. The company has a market cap of $10.20 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.17 and a beta of 1.80. The firm’s fifty day moving average price is $78.34 and its two-hundred day moving average price is $89.32. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid 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 1.10%. Wynn Resorts’s dividend payout ratio (DPR) is currently 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.