Wynn Resorts, Limited $WYNN Shares Sold by First Dallas Securities Inc.

Key Points

• First Dallas Securities Inc. reduced its stake in Wynn Resorts by 5.9%, now holding 50,021 shares valued at approximately $4.18 million.
• Analysts upgraded Wynn Resorts with UBS Group raising its rating from "neutral" to "buy" and increasing the price target from $101.00 to $147.00.
• Wynn Resorts reported a quarterly earnings per share (EPS) of $1.09, which was below the analysts' consensus estimate of $1.20, despite having revenue meeting expectations at $1.74 billion.

First Dallas Securities Inc. cut its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,021 shares of the casino operator's stock after selling 3,144 shares during the quarter. Wynn Resorts makes up 1.7% of First Dallas Securities Inc.'s investment portfolio, making the stock its 11th biggest holding. First Dallas Securities Inc.'s holdings in Wynn Resorts were worth $4,177,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd boosted its position in shares of Wynn Resorts by 8.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 20,847 shares of the casino operator's stock valued at $1,741,000 after purchasing an additional 1,644 shares during the period. Nightview Capital LLC acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at about $6,506,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after purchasing an additional 754 shares during the period. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at about $891,000. Finally, AQR Capital Management LLC raised its stake in Wynn Resorts by 63.5% during the 1st quarter. AQR Capital Management LLC now owns 108,066 shares of the casino operator's stock valued at $8,819,000 after acquiring an additional 41,966 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the transaction, the director directly owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on WYNN shares. UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and upped their price objective for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. The Goldman Sachs Group started coverage on Wynn Resorts in a research note on Monday, July 7th. They set a "buy" rating and a $122.00 price objective for the company. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Morgan Stanley upped their price objective on Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group upped their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Fourteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.47.

Wynn Resorts Trading Down 1.6%

Shares of WYNN stock opened at $120.90 on Monday. The company has a market cap of $12.57 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 6.22 and a beta of 1.37. The stock has a 50 day simple moving average of $111.62 and a 200-day simple moving average of $94.33. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $128.53.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $1.12 earnings per share. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal 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 paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio is 30.03%.

Wynn Resorts 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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