Nisa Investment Advisors LLC Cuts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Nisa Investment Advisors LLC trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 17.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,501 shares of the casino operator's stock after selling 4,361 shares during the quarter. Nisa Investment Advisors LLC's holdings in Wynn Resorts were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Global X Japan Co. Ltd. grew its holdings in shares of 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 last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after acquiring an additional 409 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in Wynn Resorts during the 4th quarter valued at $45,000. Garde Capital Inc. bought a new stake in shares of Wynn Resorts in the 1st quarter worth $73,000. Finally, Mather Group LLC. raised its stake 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. 88.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WYNN shares. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group assumed coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 target price on the stock. Barclays reduced their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus set a $113.00 price objective on shares of Wynn Resorts in a research report on Wednesday, May 7th. Finally, Citigroup restated a "neutral" rating and issued a $114.00 target price (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and an average target price of $112.71.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded down $0.16 during midday trading on Monday, hitting $111.01. The company had a trading volume of 1,557,090 shares, compared to its average volume of 2,579,967. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.36. The company has a fifty day moving average of $92.94 and a two-hundred day moving average of $86.32. The company has a market cap of $11.61 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 3.21 and a beta of 1.37.

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

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid 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 of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is 27.78%.

Insiders Place Their Bets

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