Institute for Wealth Management LLC. Has $740,000 Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Institute for Wealth Management LLC. cut its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,123 shares of the casino operator’s stock after selling 620 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Wynn Resorts were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WYNN. Horizon Investments LLC boosted its holdings in Wynn Resorts by 6.7% in the second quarter. Horizon Investments LLC now owns 1,731 shares of the casino operator’s stock worth $183,000 after purchasing an additional 108 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Wynn Resorts by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after purchasing an additional 109 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Wynn Resorts by 3.6% in the third quarter. Captrust Financial Advisors now owns 4,240 shares of the casino operator’s stock worth $267,000 after purchasing an additional 147 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC boosted its holdings in Wynn Resorts by 4.3% in the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,630 shares of the casino operator’s stock worth $323,000 after purchasing an additional 150 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Patricia Mulroy sold 960 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the sale, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,578 shares of company stock valued at $2,850,282. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 1.2 %

NASDAQ:WYNN opened at $94.99 on Friday. Wynn Resorts, Limited has a 12-month low of $81.65 and a 12-month high of $117.86. The firm has a market capitalization of $10.65 billion, a PE ratio of 15.88 and a beta of 1.93. The firm has a 50-day moving average price of $102.28 and a 200 day moving average price of $94.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.76. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The company’s revenue was up 83.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.23) earnings per share. On average, research analysts expect that Wynn Resorts, Limited will post 5.37 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s payout ratio is 16.72%.

Analyst Ratings Changes

WYNN has been the subject of a number of recent analyst reports. Bank Of America (Bofa) upped their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Susquehanna increased their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. Mizuho started coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company increased their target price on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.43.

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.