Allworth Financial LP Boosts Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Allworth Financial LP increased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 17.5% in the third quarter, Holdings Channel.com reports. The fund owned 895 shares of the casino operator’s stock after purchasing an additional 133 shares during the period. Allworth Financial LP’s holdings in Wynn Resorts were worth $86,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Interval Partners LP lifted its holdings in shares of Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after purchasing an additional 364,432 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 6,720.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after acquiring an additional 253,761 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares during the period. Finally, Vanguard Group Inc. raised its holdings 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 valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research reports. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Barclays raised their price target on Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus reduced their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Jefferies Financial Group dropped their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company upped their price target on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.21.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $96.02 on Friday. The firm’s 50 day simple moving average is $89.07 and its two-hundred day simple moving average is $88.86. The company has a market capitalization of $10.76 billion, a P/E ratio of 13.15, a P/E/G ratio of 2.54 and a beta of 1.81. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

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.