Citigroup Inc. Sells 33,187 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Citigroup Inc. lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 23.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 111,295 shares of the casino operator's stock after selling 33,187 shares during the quarter. Citigroup Inc. owned about 0.10% of Wynn Resorts worth $10,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WYNN. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the second quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of 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 acquiring an additional 467 shares during the period. Versant Capital Management Inc bought a new position in shares of Wynn Resorts in the second quarter worth $51,000. GAMMA Investing LLC raised its stake in Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock valued at $74,000 after purchasing an additional 166 shares in the last quarter. Finally, Allworth Financial LP lifted its position in Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock worth $86,000 after purchasing an additional 133 shares during the period. Institutional investors own 68.87% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WYNN. Stifel Nicolaus decreased their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a "buy" rating on the stock in a research note on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a "hold" rating in a research note on Friday, August 23rd. Susquehanna upped their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a "positive" rating in a research report on Friday, October 11th. Morgan Stanley lifted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Barclays cut their target price on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Four investment 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 company's stock. According to MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and an average target price of $115.71.

Wynn Resorts Stock Up 3.0 %

NASDAQ WYNN traded up $2.71 during trading hours on Friday, reaching $94.38. 1,402,470 shares of the company were exchanged, compared to its average volume of 2,215,861. The stock has a market capitalization of $10.36 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.36 and a beta of 1.80. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The business's 50 day simple moving average is $94.60 and its 200-day simple moving average is $88.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 EPS. As a group, sell-side analysts anticipate that Wynn Resorts, Limited will post 4.78 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.06%. Wynn Resorts's dividend payout ratio is currently 12.33%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.52% of the company's stock.

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.