Lmcg Investments LLC Decreases Stock Position in Wynn Resorts, Limited $WYNN

Lmcg Investments LLC decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,955 shares of the casino operator’s stock after selling 14,532 shares during the period. Lmcg Investments LLC’s holdings in Wynn Resorts were worth $4,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WYNN. Sequoia Financial Advisors LLC lifted its stake in shares of Wynn Resorts by 0.3% in the third quarter. Sequoia Financial Advisors LLC now owns 526,999 shares of the casino operator’s stock worth $67,598,000 after acquiring an additional 1,499 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at approximately $232,000. Ritholtz Wealth Management purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at approximately $219,000. Quent Capital LLC bought a new stake in shares of Wynn Resorts in the third quarter worth $154,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Wynn Resorts by 5.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,145 shares of the casino operator’s stock valued at $532,000 after acquiring an additional 213 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Stock Performance

WYNN stock opened at $114.33 on Friday. The stock’s fifty day moving average is $123.28 and its two-hundred day moving average is $119.61. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 14.80 and a beta of 1.08. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.90 EPS. Wynn Resorts’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio is currently 22.37%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WYNN. Wells Fargo & Company initiated coverage on shares of Wynn Resorts in a research report on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 target price for the company. Morgan Stanley upped their price objective on Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $148.00 target price on shares of Wynn Resorts in a research report on Monday, December 15th. Texas Capital raised Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Macquarie restated an “outperform” rating and set a $143.00 price objective on shares of Wynn Resorts in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $140.15.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.