Comerica Bank Cuts Stock Position in Wynn Resorts, Limited $WYNN

Comerica Bank cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,186 shares of the casino operator's stock after selling 2,986 shares during the quarter. Comerica Bank's holdings in Wynn Resorts were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WYNN. American Assets Inc. boosted its holdings in Wynn Resorts by 52.2% during the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after acquiring an additional 3,500 shares during the period. Northern Trust Corp lifted its holdings in Wynn Resorts by 6.5% in the 4th quarter. Northern Trust Corp now owns 821,684 shares of the casino operator's stock worth $70,796,000 after buying an additional 50,428 shares during the period. Baker Avenue Asset Management LP purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $791,000. Bridger Management LLC lifted its holdings in Wynn Resorts by 34.9% in the 4th quarter. Bridger Management LLC now owns 135,189 shares of the casino operator's stock worth $11,648,000 after buying an additional 34,989 shares during the period. Finally, BOKF NA lifted its holdings in Wynn Resorts by 3.9% in the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator's stock worth $289,000 after buying an additional 132 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Stock Down 1.0%

WYNN opened at $125.47 on Wednesday. The stock has a market cap of $13.05 billion, a PE ratio of 37.68, a PEG ratio of 6.76 and a beta of 1.37. The business has a 50 day moving average of $109.82 and a 200-day moving average of $93.65. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $128.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.12 EPS. Equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is 30.03%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Jefferies Financial Group increased their price objective on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Mizuho increased their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. UBS Group upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Finally, 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. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.93.

About Wynn Resorts

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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