Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in Wynn Resorts by 31.8%, selling 10,143 shares during the first quarter, leaving 21,785 shares valued at approximately $1.82 million.
• Wynn Resorts declared a quarterly dividend of $0.25, with an annualized yield of 0.9%, to be paid on August 29th to shareholders of record.
• Analysts have mixed ratings on Wynns' stock, with a consensus of "Moderate Buy" and an average price target of $116.57.

Cetera Investment Advisers lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 31.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,785 shares of the casino operator's stock after selling 10,143 shares during the quarter. Cetera Investment Advisers' holdings in Wynn Resorts were worth $1,819,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WYNN. Avantax Advisory Services Inc. grew its position in Wynn Resorts by 8.5% in the first quarter. Avantax Advisory Services Inc. now owns 8,054 shares of the casino operator's stock worth $673,000 after acquiring an additional 628 shares during the period. AE Wealth Management LLC purchased a new position in Wynn Resorts in the first quarter worth approximately $4,940,000. Wedbush Securities Inc. purchased a new position in Wynn Resorts in the first quarter worth approximately $295,000. Readystate Asset Management LP purchased a new position in Wynn Resorts in the first quarter worth approximately $467,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Wynn Resorts by 69.9% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 26,836 shares of the casino operator's stock worth $2,241,000 after acquiring an additional 11,038 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Insiders Place Their Bets

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

Wynn Resorts Trading Down 0.8%

Shares of NASDAQ WYNN opened at $106.41 on Friday. The stock has a market cap of $11.13 billion, a P/E ratio of 31.96, a PEG ratio of 2.96 and a beta of 1.41. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $112.36. The business's fifty day simple moving average is $99.81 and its 200-day simple moving average is $89.69.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company 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 58.99%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WYNN shares. Mizuho lowered their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. 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 report on Friday. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price objective for the company. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Citigroup restated a "neutral" rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $116.57.

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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