State Street Corp Lowers Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

State Street Corp trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,877,858 shares of the casino operator's stock after selling 203,311 shares during the period. State Street Corp owned about 3.53% of Wynn Resorts worth $371,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Wynn Resorts in the 2nd 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 valued at $49,000 after purchasing an additional 467 shares in the last quarter. Allworth Financial LP boosted its position in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after buying an additional 133 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator's stock worth $99,000 after buying an additional 900 shares in the last quarter. Finally, Covestor Ltd raised its position in Wynn Resorts by 207.4% in the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator's stock valued at $135,000 after buying an additional 950 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company's stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.52% of the company's stock.

Wynn Resorts Trading Down 1.0 %

Shares of WYNN stock traded down $0.99 during trading on Tuesday, reaching $94.95. 1,196,827 shares of the company's stock traded hands, compared to its average volume of 2,210,437. The firm's 50-day moving average is $95.63 and its 200 day moving average is $87.79. The company has a market capitalization of $10.43 billion, a P/E ratio of 11.83, a PEG ratio of 3.45 and a beta of 1.78. 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 earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The company had revenue of $1.69 billion for 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 company's revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts's payout ratio is presently 12.33%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WYNN. Morgan Stanley upped their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Macquarie reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. UBS Group raised shares of Wynn Resorts to a "hold" rating in a research report on Friday, August 23rd. Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a "positive" rating in a report on Friday, October 11th. Finally, Wells Fargo & Company decreased their price target on Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus price target 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.