Wynn Resorts, Limited (NASDAQ:WYNN) Stock Position Lowered by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,593 shares of the casino operator’s stock after selling 4,652 shares during the period. iA Global Asset Management Inc.’s holdings in Wynn Resorts were worth $728,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WYNN. EP Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the third quarter worth $290,000. Wellington Management Group LLP lifted its stake in Wynn Resorts by 90.6% in the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after acquiring an additional 54,995 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Wynn Resorts during the 3rd quarter worth about $19,753,000. Quantinno Capital Management LP grew its stake in Wynn Resorts by 9.5% during the 3rd quarter. Quantinno Capital Management LP now owns 29,895 shares of the casino operator’s stock valued at $2,866,000 after acquiring an additional 2,606 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Wynn Resorts by 3.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 41,854 shares of the casino operator’s stock valued at $4,013,000 after purchasing an additional 1,355 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 1.7 %

Shares of WYNN stock opened at $95.94 on Tuesday. The business’s 50 day moving average is $95.63 and its two-hundred day moving average is $87.79. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market cap of $10.54 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 3.45 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. As a group, equities analysts expect that Wynn Resorts, Limited will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.04%. Wynn Resorts’s payout ratio is 12.33%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WYNN. Wells Fargo & Company lowered their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Company 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.