Wynn Resorts, Limited $WYNN Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 51.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,212 shares of the casino operator's stock after selling 6,529 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Wynn Resorts were worth $633,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky lifted its holdings in Wynn Resorts by 1.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator's stock worth $589,000 after purchasing an additional 132 shares during the period. Navalign LLC lifted its holdings in Wynn Resorts by 1.8% in the first quarter. Navalign LLC now owns 8,252 shares of the casino operator's stock worth $689,000 after purchasing an additional 144 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after purchasing an additional 156 shares during the period. CX Institutional lifted its holdings in Wynn Resorts by 6.7% in the second quarter. CX Institutional now owns 3,058 shares of the casino operator's stock worth $286,000 after purchasing an additional 192 shares during the period. Finally, Mather Group LLC. lifted its holdings in 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 period. Institutional investors and hedge funds own 88.64% of the company's stock.

Analyst Ratings Changes

WYNN has been the subject of a number of research analyst reports. Macquarie upped their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Jefferies Financial Group upped their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a report on Monday, August 11th. Argus raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price target for the company in a report on Wednesday, September 3rd. Finally, UBS Group raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating and upped their price target for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.64.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Trading Up 5.0%

WYNN stock opened at $125.40 on Friday. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The firm has a market capitalization of $13.04 billion, a PE ratio of 37.66, a P/E/G ratio of 4.88 and a beta of 1.31. The firm has a 50-day moving average of $122.10 and a two-hundred day moving average of $103.24.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results 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). The business 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 56.78%. Wynn Resorts's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio is currently 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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