UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 239,606 Shares of Wynn Resorts, Limited $WYNN

Key Points

• UBS AM reduced its stake in Wynn Resorts by 38.8%, selling 239,606 shares and retaining approximately 0.36% of the company worth $31.49 million.
• Wynn Resorts received multiple price target increases from analysts, with UBS Group raising its target from $101 to $147, resulting in an average target price of $124.47.
• Director Patricia Mulroy sold 4,438 shares of Wynn stock for a total of $554,750, decreasing her ownership by 59.14%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lessened its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 38.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 377,142 shares of the casino operator's stock after selling 239,606 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.36% of Wynn Resorts worth $31,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in WYNN. Dagco Inc. bought a new position in shares of Wynn Resorts during the 1st quarter valued at $25,000. AlphaQuest LLC purchased a new stake in Wynn Resorts during the 1st quarter valued at $25,000. Global X Japan Co. Ltd. boosted its position in Wynn Resorts by 120.7% during the 1st 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 period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after buying an additional 409 shares during the period. Finally, Garde Capital Inc. purchased a new stake in Wynn Resorts during the 1st quarter valued at $73,000. Institutional investors own 88.64% of the company's stock.

Analyst Ratings Changes

WYNN has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Mizuho lifted their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Morgan Stanley lifted their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Macquarie lifted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, UBS Group raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and lifted their price target for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and an average target price of $124.47.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

WYNN opened at $122.85 on Tuesday. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 6.25 and a beta of 1.37. The firm's fifty day moving average is $113.93 and its 200 day moving average is $95.69. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $128.53.

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

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid 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 yield of 0.8%. Wynn Resorts's payout ratio is 30.03%.

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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