Janney Montgomery Scott LLC Sells 23,076 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Janney Montgomery Scott LLC lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 34.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 43,286 shares of the casino operator's stock after selling 23,076 shares during the quarter. Janney Montgomery Scott LLC's holdings in Wynn Resorts were worth $4,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Interval Partners LP raised its stake in Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator's stock worth $40,985,000 after purchasing an additional 364,432 shares in the last quarter. Renaissance Technologies LLC grew its position in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock worth $120,386,000 after buying an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Wynn Resorts by 6,720.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator's stock worth $23,050,000 after acquiring an additional 253,761 shares during the period. Janus Henderson Group PLC raised its holdings in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock valued at $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock valued at $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. Institutional investors own 68.87% of the company's stock.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the 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 sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company's stock.

Wynn Resorts Stock Down 3.3 %

NASDAQ WYNN traded down $2.87 on Friday, hitting $84.30. The company's stock had a trading volume of 4,116,487 shares, compared to its average volume of 2,608,297. The company's 50-day moving average is $90.96 and its 200 day moving average is $88.49. The firm has a market cap of $9.26 billion, a PE ratio of 10.39, a PEG ratio of 2.41 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.

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 for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts expect that Wynn Resorts, Limited will post 4.9 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. Wynn Resorts's dividend payout ratio (DPR) is currently 12.33%.

Analysts Set New Price Targets

A number of brokerages recently commented on WYNN. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Susquehanna upped their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a report on Friday, October 11th. UBS Group raised shares of Wynn Resorts to a "hold" rating in a research note on Friday, August 23rd. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley lifted their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.