Wynn Resorts, Limited (NASDAQ:WYNN) Stock Holdings Lowered by Truist Financial Corp

Truist Financial Corp cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 63.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,889 shares of the casino operator's stock after selling 12,211 shares during the quarter. Truist Financial Corp's holdings in Wynn Resorts were worth $594,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WYNN. Sanctuary Advisors LLC raised its stake in Wynn Resorts by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 4,201 shares of the casino operator's stock valued at $376,000 after purchasing an additional 315 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Wynn Resorts by 6.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 35,932 shares of the casino operator's stock valued at $3,096,000 after buying an additional 2,040 shares during the period. Vontobel Holding Ltd. boosted its position in Wynn Resorts by 11.8% during the fourth quarter. Vontobel Holding Ltd. now owns 9,744 shares of the casino operator's stock worth $840,000 after acquiring an additional 1,026 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Wynn Resorts by 1.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 36,309 shares of the casino operator's stock valued at $3,220,000 after acquiring an additional 569 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Wynn Resorts by 70.7% during the 4th quarter. Van ECK Associates Corp now owns 72,242 shares of the casino operator's stock worth $6,224,000 after purchasing an additional 29,931 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wynn Resorts Trading Down 2.1 %

NASDAQ:WYNN traded down $1.91 during mid-day trading on Thursday, hitting $88.76. The company had a trading volume of 483,187 shares, compared to its average volume of 2,717,221. The business has a fifty day simple moving average of $85.34 and a 200-day simple moving average of $88.13. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 2.35 and a beta of 1.76. 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 released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's payout ratio is currently 23.75%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WYNN shares. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley lowered their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a report on Monday, February 24th. Macquarie reaffirmed an "outperform" rating and set a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Mizuho boosted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and an average target price of $119.58.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.