Los Angeles Capital Management LLC Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Los Angeles Capital Management LLC cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 71.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,048 shares of the casino operator's stock after selling 127,360 shares during the period. Los Angeles Capital Management LLC's holdings in Wynn Resorts were worth $4,894,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Sei Investments Co. increased its stake in Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator's stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. UniSuper Management Pty Ltd lifted its stake in Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator's stock worth $1,041,000 after purchasing an additional 8,590 shares during the last quarter. Vanguard Group Inc. grew its holdings in Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the period. Cetera Investment Advisers boosted its holdings in Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator's stock worth $2,656,000 after acquiring an additional 19,889 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of Wynn Resorts in the second quarter valued at approximately $698,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of WYNN traded down $1.49 during mid-day trading on Tuesday, hitting $84.99. The company's stock had a trading volume of 1,930,088 shares, compared to its average volume of 2,179,956. The firm has a 50-day moving average price of $91.15 and a 200 day moving average price of $88.36. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 2.41 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced 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). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company's revenue was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 4.9 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is 12.33%.

Analyst Upgrades and Downgrades

WYNN has been the subject of several analyst reports. Barclays reduced their price objective on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Morgan Stanley raised their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Stifel Nicolaus reduced their target price 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. Finally, UBS Group upgraded Wynn Resorts to a "hold" rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.71.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.52% of the company's stock.

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.