Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 674,737 shares of the casino operator's stock after selling 10,775 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of Wynn Resorts worth $56,341,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in shares of Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after buying an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after purchasing an additional 409 shares during the period. Canada Post Corp Registered Pension Plan bought a new stake in shares of Wynn Resorts during the fourth quarter worth $45,000. Garde Capital Inc. purchased a new stake in shares of Wynn Resorts during the first quarter valued at $73,000. Finally, Mather Group LLC. grew its holdings in shares of Wynn Resorts by 32.7% in the first quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock worth $75,000 after purchasing an additional 221 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded down $1.15 during trading on Wednesday, reaching $109.85. The stock had a trading volume of 1,240,144 shares, compared to its average volume of 2,593,445. The company has a market cap of $11.49 billion, a P/E ratio of 30.51, a PEG ratio of 3.17 and a beta of 1.37. The business's 50-day moving average price is $94.05 and its 200-day moving average price is $86.64. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $112.36.

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

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WYNN shares. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a research report on Wednesday, May 7th. Mizuho cut their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Wednesday, May 7th. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, UBS Group reissued a "neutral" rating and issued a $101.00 price target (up previously from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and an average target price of $112.71.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.

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.