Keybank National Association OH Sells 1,837 Shares of Wynn Resorts, Limited $WYNN

Keybank National Association OH lowered its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,874 shares of the casino operator’s stock after selling 1,837 shares during the quarter. Keybank National Association OH’s holdings in Wynn Resorts were worth $2,798,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dagco Inc. purchased a new stake in shares of Wynn Resorts during the first quarter worth about $25,000. AlphaQuest LLC bought a new stake in shares of Wynn Resorts in the 1st quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $43,000. Finally, Mather Group LLC. lifted its stake in shares of Wynn Resorts by 32.7% in the 1st quarter. Mather Group LLC. now owns 896 shares of the casino operator’s stock valued at $75,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Activity

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction on 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 directly owned 3,066 shares in the company, valued at approximately $383,250. This trade represents a 59.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WYNN shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research note on Tuesday, October 14th. Macquarie raised their price target on Wynn Resorts from $110.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Citigroup reissued a “neutral” rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Stifel Nicolaus raised their price target on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Finally, Barclays raised their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $129.64.

Wynn Resorts Stock Down 0.7%

Shares of NASDAQ WYNN opened at $118.99 on Friday. The business has a fifty day simple moving average of $123.39 and a two-hundred day simple moving average of $105.75. The firm has a market cap of $12.37 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 4.94 and a beta of 1.31. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23.

Wynn Resorts (NASDAQ:WYNN) 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 firm had revenue of $1.74 billion for 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 company’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 earnings per share. On average, research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared 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 (DPR) 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.