Apollon Wealth Management LLC decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 27.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,958 shares of the casino operator’s stock after selling 1,531 shares during the period. Apollon Wealth Management LLC’s holdings in Wynn Resorts were worth $380,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in WYNN. International Assets Investment Management LLC purchased a new stake in Wynn Resorts during the 2nd quarter valued at $25,000. Blue Trust Inc. boosted its position in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares during the period. Versant Capital Management Inc purchased a new stake in Wynn Resorts during the 2nd quarter valued at $51,000. Covestor Ltd boosted its position in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after buying an additional 506 shares during the period. Finally, GAMMA Investing LLC boosted its position in Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on WYNN. Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.
Wynn Resorts Trading Down 2.7 %
WYNN opened at $90.74 on Monday. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 3.26 and a beta of 1.80. The company’s 50 day moving average is $92.12 and its 200 day moving average is $88.20. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. As a group, analysts predict that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.
Insider Buying and Selling
In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by insiders.
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.
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