Stifel Financial Corp Cuts Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Stifel Financial Corp reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 30.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,791 shares of the casino operator's stock after selling 9,721 shares during the period. Stifel Financial Corp's holdings in Wynn Resorts were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WYNN. Regal Partners Ltd boosted its position in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock valued at $86,168,000 after buying an additional 174,005 shares in the last quarter. Crystal Rock Capital Management acquired a new position in shares of Wynn Resorts in the third quarter valued at approximately $719,000. MBB Public Markets I LLC bought a new position in Wynn Resorts in the 2nd quarter valued at approximately $698,000. APG Asset Management N.V. boosted its position in Wynn Resorts by 231.0% during the 2nd quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator's stock worth $933,000 after buying an additional 7,800 shares during the period. Finally, ARGA Investment Management LP bought a new stake in Wynn Resorts during the 3rd quarter worth approximately $2,174,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Trading Up 0.7 %

Shares of WYNN traded up $0.64 during trading hours on Friday, reaching $88.95. The stock had a trading volume of 2,662,689 shares, compared to its average volume of 2,205,855. The firm has a 50-day simple moving average of $93.82 and a 200 day simple moving average of $87.78. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) 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 business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Wynn Resorts, Limited will post 4.79 EPS for the current 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 of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Wynn Resorts's payout ratio is 12.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a research note on Friday, September 13th. Morgan Stanley raised their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Susquehanna upped their price target on Wynn Resorts from $92.00 to $122.00 and gave the company a "positive" rating in a research report on Friday, October 11th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th. Finally, Macquarie reissued an "outperform" rating and issued a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $115.71.

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.