Wynn Resorts, Limited $WYNN Stock Holdings Cut by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its holdings in Wynn Resorts by 2.5%, selling 20,903 shares to own approximately 0.77% of the company, valued at $66.87 million.
• Wynn Resorts recently announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.8%.
• Analysts have a Moderate Buy rating on Wynn Resorts, with an average price target of $118.64.

Northern Trust Corp reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 2.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 800,781 shares of the casino operator's stock after selling 20,903 shares during the quarter. Northern Trust Corp owned about 0.77% of Wynn Resorts worth $66,865,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WYNN. Dagco Inc. purchased a new stake in shares of Wynn Resorts in the first quarter valued at $25,000. Global X Japan Co. Ltd. raised its holdings in shares of Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after buying an additional 409 shares during the last quarter. Garde Capital Inc. acquired a new position in Wynn Resorts during the first quarter worth $73,000. Finally, Mather Group LLC. increased its position in Wynn Resorts by 32.7% during the first quarter. Mather Group LLC. now owns 896 shares of the casino operator's stock worth $75,000 after buying an additional 221 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Patricia Mulroy sold 2,262 shares of the company'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 completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $118.36 on Tuesday. The firm's 50-day moving average is $105.47 and its 200-day moving average is $91.89. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 6.08 and a beta of 1.41. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $118.56.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business 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 business's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. Sell-side analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is 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 30.03%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WYNN shares. Macquarie raised their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Citigroup restated a "neutral" rating and set a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. UBS Group restated a "neutral" rating and set a $101.00 price target (up previously from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Wynn Resorts in a research report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and a consensus target price of $118.64.

About Wynn Resorts

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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