Cookson Peirce & Co. Inc. Sells 4,278 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Cookson Peirce & Co. Inc. has reduced its holdings in Wynn Resorts by 7.3%, now owning 54,340 shares valued at approximately $5.09 million.
• The recent earnings report revealed that Wynn Resorts missed analysts' EPS expectations, reporting $1.09 for the quarter compared to a consensus of $1.20.
• Wynn Resorts declared a quarterly dividend of $0.25, resulting in an annualized yield of 0.8% with a payout ratio of 30.03%.

Cookson Peirce & Co. Inc. lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,340 shares of the casino operator's stock after selling 4,278 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.05% of Wynn Resorts worth $5,090,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WYNN. DAVENPORT & Co LLC bought a new position in shares of Wynn Resorts during the 1st quarter worth approximately $49,476,000. Nuveen LLC bought a new position in shares of Wynn Resorts during the 1st quarter worth approximately $41,731,000. Regal Partners Ltd raised its stake in shares of Wynn Resorts by 21.5% during the 1st quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock worth $91,147,000 after acquiring an additional 192,873 shares in the last quarter. Goodman Financial Corp purchased a new stake in shares of Wynn Resorts in the 1st quarter valued at $13,357,000. Finally, Kodai Capital Management LP boosted its holdings in shares of Wynn Resorts by 174.5% in the 1st quarter. Kodai Capital Management LP now owns 239,031 shares of the casino operator's stock valued at $19,959,000 after acquiring an additional 151,956 shares during the last quarter. Institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Down 0.7%

Shares of NASDAQ WYNN opened at $121.13 on Wednesday. The firm has a 50-day simple moving average of $121.67 and a 200-day simple moving average of $102.72. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 6.26 and a beta of 1.31. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $134.23.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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 business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $1.12 earnings per share. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

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

Insider Activity

In related news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on WYNN. Macquarie upped their price objective on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Barclays upped their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price objective on the stock in a report on Wednesday, September 3rd. Jefferies Financial Group boosted their target price on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Citigroup restated a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and a consensus target price of $129.64.

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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