National Bank of Canada FI Sells 285,805 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

National Bank of Canada FI trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 80.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,111 shares of the casino operator's stock after selling 285,805 shares during the quarter. National Bank of Canada FI owned 0.07% of Wynn Resorts worth $5,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WYNN. American Assets Inc. raised its stake in shares of Wynn Resorts by 52.2% in the fourth quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after purchasing an additional 3,500 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Wynn Resorts by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 44,918 shares of the casino operator's stock valued at $3,870,000 after purchasing an additional 280 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Wynn Resorts by 52.9% in the fourth quarter. Sterling Capital Management LLC now owns 5,724 shares of the casino operator's stock valued at $493,000 after purchasing an additional 1,981 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Wynn Resorts in the fourth quarter valued at $45,000. Finally, Jump Financial LLC raised its stake in Wynn Resorts by 122.4% during the fourth quarter. Jump Financial LLC now owns 5,127 shares of the casino operator's stock worth $442,000 after acquiring an additional 2,822 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WYNN has been the subject of several recent analyst reports. Mizuho increased their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research note on Monday. The Goldman Sachs Group initiated coverage on Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. Stifel Nicolaus increased their price objective on Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Finally, Barclays increased their price objective on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average price target of $118.64.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $111.82 on Thursday. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $112.57. The stock has a market capitalization of $11.63 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 5.98 and a beta of 1.41. The stock has a fifty day moving average of $101.24 and a 200-day moving average of $90.23.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly 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). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the firm posted $1.12 EPS. Wynn Resorts's quarterly revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts's dividend payout ratio is presently 30.03%.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is currently owned by 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.

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