Amalgamated Bank Trims Position in Wynn Resorts, Limited $WYNN

Amalgamated Bank lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,753 shares of the casino operator’s stock after selling 1,252 shares during the period. Amalgamated Bank’s holdings in Wynn Resorts were worth $1,569,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Resolute Capital Asset Partners LLC purchased a new position in Wynn Resorts during the 1st quarter valued at about $3,758,000. Oak Harvest Investment Services increased its position in Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock valued at $2,677,000 after purchasing an additional 5,511 shares during the period. Strs Ohio purchased a new position in Wynn Resorts during the 1st quarter valued at about $7,515,000. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Wynn Resorts by 116.0% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator’s stock valued at $1,209,000 after purchasing an additional 7,820 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in Wynn Resorts during the 1st quarter valued at about $365,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on WYNN shares. Morgan Stanley raised their target price on shares of Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, September 3rd. Zacks Research raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Finally, The Goldman Sachs Group raised their target price on shares of Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.25.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $125.19 on Thursday. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The stock has a market capitalization of $13.02 billion, a P/E ratio of 37.59, a P/E/G ratio of 4.94 and a beta of 1.31. The company’s 50-day simple moving average is $123.62 and its 200-day simple moving average is $106.80.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly 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). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is 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.