Cerity Partners LLC Acquires 3,521 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Cerity Partners LLC grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 53,711 shares of the casino operator’s stock after purchasing an additional 3,521 shares during the quarter. Cerity Partners LLC’s holdings in Wynn Resorts were worth $5,150,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WYNN. International Assets Investment Management LLC acquired a new stake in Wynn Resorts in the second quarter valued at about $25,000. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after acquiring an additional 467 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $51,000. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 166 shares during the last quarter. Finally, Allworth Financial LP increased its position in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Trading Down 0.2 %

Shares of Wynn Resorts stock opened at $91.67 on Friday. The company has a market cap of $10.07 billion, a P/E ratio of 11.30, a PEG ratio of 3.30 and a beta of 1.80. The business has a 50-day moving average price of $94.38 and a two-hundred day moving average price of $87.98. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share 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 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 company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Equities research analysts forecast that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. Wynn Resorts’s payout ratio is presently 12.33%.

Analysts Set New Price Targets

Several equities analysts recently commented on WYNN shares. Barclays cut their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus dropped their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.71.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $447,894.97. This represents 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 accessible through this link. 0.52% of the stock is owned by 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.