Bank of New York Mellon Corp Sells 10,775 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Bank of New York Mellon Corp decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 674,737 shares of the casino operator's stock after selling 10,775 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of Wynn Resorts worth $56,341,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its stake in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after buying an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after buying an additional 409 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the fourth quarter valued at $45,000. Garde Capital Inc. bought a new stake in Wynn Resorts during the first quarter valued at $73,000. Finally, Mather Group LLC. boosted its stake in Wynn Resorts by 32.7% during the first quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock valued at $75,000 after buying an additional 221 shares during the period. Institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WYNN shares. The Goldman Sachs Group started coverage on Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 price target for the company. Citigroup reaffirmed a "neutral" rating and set a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target for the company. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Mizuho dropped their price target on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average price target of $112.71.

Wynn Resorts Price Performance

WYNN opened at $111.17 on Friday. The business has a 50 day simple moving average of $92.94 and a two-hundred day simple moving average of $86.34. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 3.22 and a beta of 1.37. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company's revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 EPS. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the transaction, the director owned 3,066 shares of the company's stock, valued at $282,439.92. This represents a 42.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.52% of the stock is owned by 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.

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