Wynn Resorts, Limited $WYNN Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 6.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 472,314 shares of the casino operator’s stock after selling 30,068 shares during the quarter. Bank of New York Mellon Corp’s holdings in Wynn Resorts were worth $47,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after purchasing an additional 103 shares during the last quarter. SHP Wealth Management purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at $32,000. Finally, Geneos Wealth Management Inc. increased its stake 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 purchasing an additional 156 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Up 0.2%

Wynn Resorts stock opened at $96.92 on Friday. Wynn Resorts, Limited has a 52 week low of $92.52 and a 52 week high of $134.72. The stock has a market cap of $10.06 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 0.95 and a beta of 0.99. The stock has a 50 day moving average of $100.21 and a 200-day moving average of $104.96.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.52 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio is currently 29.85%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WYNN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Bank of America dropped their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Truist Financial assumed coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They set a “buy” rating and a $125.00 price target for the company. Finally, Barclays lowered their price objective on shares of Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.94.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.