Wynn Resorts, Limited $WYNN Holdings Lowered by Comerica Bank

Key Points

• Comerica Bank trimmed its stake in Wynn Resorts by 82.5% in Q4, selling 186,197 shares and leaving 39,419 shares valued at about $4.743 million.
• Wynn reported Q4 EPS of $1.17, missing estimates of $1.33 while revenue was $1.87 billion (slightly above expectations), and the company declared a $0.25 quarterly dividend (annualized $1.00, yield 0.9%).
• Wall Street consensus is a Moderate Buy with an average target price of $137.93; analyst ratings span Strong Buy to Hold and several firms have recently adjusted their targets.

Comerica Bank trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 82.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,419 shares of the casino operator's stock after selling 186,197 shares during the quarter. Comerica Bank's holdings in Wynn Resorts were worth $4,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of WYNN. Pacific Heights Asset Management LLC raised its position in shares of Wynn Resorts by 30.4% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator's stock worth $19,240,000 after purchasing an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Wynn Resorts by 19.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator's stock worth $114,374,000 after purchasing an additional 142,892 shares during the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Wynn Resorts in the 3rd quarter worth about $51,163,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Wynn Resorts in the 3rd quarter worth about $1,347,000. Finally, Capital Advisors Ltd. LLC raised its position in shares of Wynn Resorts by 433,217.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator's stock worth $8,864,000 after purchasing an additional 73,647 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WYNN has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Wynn Resorts from $139.00 to $136.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Texas Capital raised Wynn Resorts to a "strong-buy" rating in a research report on Thursday, January 8th. Jefferies Financial Group decreased their target price on Wynn Resorts from $161.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Wells Fargo & Company decreased their target price on Wynn Resorts from $147.00 to $144.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Finally, Barclays boosted their target price on Wynn Resorts from $141.00 to $143.00 and gave the stock an "overweight" rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and an average target price of $137.93.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $105.98 on Friday. Wynn Resorts, Limited has a fifty-two week low of $80.86 and a fifty-two week high of $134.72. The business has a 50-day simple moving average of $103.97 and a two-hundred day simple moving average of $114.60. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 5.94 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period last year, the firm posted $2.42 EPS. Wynn Resorts's quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts, Limited will post 4.93 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio is presently 33.33%.

Wynn Resorts Profile

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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