Victory Capital Management Inc. Sells 16,008 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Victory Capital Management Inc. reduced its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 52.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,335 shares of the casino operator's stock after selling 16,008 shares during the quarter. Victory Capital Management Inc.'s holdings in Wynn Resorts were worth $1,374,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in WYNN. Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock valued at $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Wynn Resorts by 22.2% during 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 purchasing an additional 204,852 shares in the last quarter. Regal Partners Ltd increased its position in shares of Wynn Resorts by 5.6% during the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator's stock valued at $64,861,000 after purchasing an additional 38,344 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Wynn Resorts by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator's stock worth $50,897,000 after buying an additional 23,314 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Wynn Resorts by 62.3% in the third quarter. Sequoia Financial Advisors LLC now owns 418,070 shares of the casino operator's stock valued at $40,085,000 after buying an additional 160,533 shares during the period. Institutional investors and hedge funds own 68.87% of the company's stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the business'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 value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company's stock, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on WYNN. JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Macquarie reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a "hold" rating in a report on Friday, August 23rd. Wells Fargo & Company reduced their target price 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. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Four investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.71.

Wynn Resorts Trading Down 1.7 %

NASDAQ WYNN traded down $1.59 during trading on Tuesday, reaching $91.86. 1,806,169 shares of the company's stock were exchanged, compared to its average volume of 2,222,795. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company's fifty day simple moving average is $93.88 and its 200-day simple moving average is $87.99. The firm has a market capitalization of $10.09 billion, a PE ratio of 11.33, a P/E/G ratio of 3.28 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business posted $0.99 earnings per share. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts forecast that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is presently 12.33%.

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.