Oak Thistle LLC Sells 28,876 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Oak Thistle LLC decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 80.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,968 shares of the casino operator's stock after selling 28,876 shares during the period. Oak Thistle LLC's holdings in Wynn Resorts were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the last quarter. Geode Capital Management LLC lifted its stake in Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after buying an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. lifted its stake in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after buying an additional 228,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in Wynn Resorts in the fourth quarter valued at approximately $117,352,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN traded up $0.99 during trading on Friday, hitting $109.44. 1,463,424 shares of the stock traded hands, compared to its average volume of 1,911,695. The business has a 50 day moving average price of $96.51 and a 200 day moving average price of $87.93. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 3.00 and a beta of 1.37. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $112.36.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the firm earned $1.59 EPS. The business's revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities research analysts predict 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 was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.91%. Wynn Resorts's payout ratio is 27.78%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of the business's 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 transaction, the director owned 3,066 shares in the company, valued at $282,439.92. The trade was 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 insiders.

Analyst Ratings Changes

A number of analysts have commented on WYNN shares. JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 target price on the stock. The Goldman Sachs Group began coverage on Wynn Resorts in a research report on Monday, July 7th. They issued a "buy" rating and a $122.00 target price for the company. UBS Group reaffirmed a "neutral" rating and set a $101.00 target price (up previously from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. Mizuho decreased their target price on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.71.

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.