Keybank National Association OH Cuts Position in Wynn Resorts, Limited $WYNN

Keybank National Association OH cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC purchased a new position in Wynn Resorts during the 1st quarter worth $25,000. Dagco Inc. purchased a new position in Wynn Resorts during the 1st quarter worth $25,000. Geneos Wealth Management Inc. grew its stake in Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Wynn Resorts during the 2nd quarter worth $43,000. Finally, Mather Group LLC. grew its stake in Wynn Resorts by 32.7% during the 1st 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Zacks Research upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. UBS Group upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $101.00 to $147.00 in a research note on Thursday, August 28th. Barclays lifted their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research report on Tuesday, October 14th. Finally, Mizuho lifted their price target on Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.64.

Wynn Resorts Stock Performance

Shares of WYNN opened at $118.99 on Friday. The stock has a 50-day moving average of $123.39 and a two-hundred day moving average of $105.75. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The stock has a market cap of $12.37 billion, a P/E ratio of 35.73, a P/E/G ratio of 4.94 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data 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 company had revenue of $1.74 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. Analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts’s payout ratio is 30.03%.

Insider Activity

In other news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director owned 3,066 shares of the company’s stock, valued at $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.

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.