Wynn Resorts, Limited (NASDAQ:WYNN) Position Trimmed by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 73.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472 shares of the casino operator’s stock after selling 1,336 shares during the quarter. First Horizon Advisors Inc.’s holdings in Wynn Resorts were worth $41,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WYNN. Blue Trust Inc. grew its stake in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares in the last quarter. International Assets Investment Management LLC grew its stake in Wynn Resorts by 24,083.8% during the 3rd quarter. International Assets Investment Management LLC now owns 68,682 shares of the casino operator’s stock valued at $6,585,000 after acquiring an additional 68,398 shares in the last quarter. Allworth Financial LP grew its stake in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Wynn Resorts by 63.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,583 shares of the casino operator’s stock valued at $740,000 after acquiring an additional 2,954 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Wynn Resorts by 3.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock valued at $1,231,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction 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 represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

WYNN has been the subject of several research reports. Wells Fargo & Company reduced their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Stock Performance

WYNN opened at $88.19 on Friday. The business has a 50 day moving average price of $85.35 and a 200 day moving average price of $87.66. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The firm has a market cap of $9.38 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

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.