Wynn Resorts, Limited $WYNN Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Wynn Resorts by 61.9%, selling over 15,000 shares in the second quarter, leaving them with holdings valued at approximately $906,000.
• Analysts have a consensus rating of "Moderate Buy" for Wynn Resorts, with a price target averaging $127.33, reflecting positive expectations for the stock's performance.
• Insider activity included Director Patricia Mulroy selling 4,438 shares of Wynn Resorts, representing a 59.14% decrease in her ownership after the transaction.

Wealth Enhancement Advisory Services LLC lowered its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 61.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,674 shares of the casino operator's stock after selling 15,731 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Wynn Resorts were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WYNN. Dagco Inc. acquired a new position in Wynn Resorts in the first quarter valued at $25,000. AlphaQuest LLC acquired a new position in Wynn Resorts in the first quarter valued at $25,000. Global X Japan Co. Ltd. boosted its holdings in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Geneos Wealth Management Inc. boosted 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 valued at $32,000 after acquiring an additional 156 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after acquiring an additional 409 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on WYNN. JPMorgan Chase & Co. began coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Wynn Resorts from $124.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Morgan Stanley boosted their price objective on Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, Macquarie boosted their price objective on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $127.33.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company's 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company's stock.

Wynn Resorts Stock Up 1.0%

Shares of Wynn Resorts stock opened at $133.34 on Friday. The firm has a market cap of $13.86 billion, a P/E ratio of 40.04, a P/E/G ratio of 6.72 and a beta of 1.31. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The business has a 50-day moving average price of $118.74 and a 200 day moving average price of $99.21.

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 for the quarter, missing the consensus estimate of $1.20 by ($0.11). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's payout ratio is currently 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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