Wynn Resorts, Limited $WYNN Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 44.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,235 shares of the casino operator’s stock after selling 271,419 shares during the quarter. DAVENPORT & Co LLC owned about 0.32% of Wynn Resorts worth $40,098,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Capital World Investors boosted its holdings in Wynn Resorts by 0.7% in the third quarter. Capital World Investors now owns 9,481,183 shares of the casino operator’s stock worth $1,216,151,000 after acquiring an additional 69,793 shares in the last quarter. Bamco Inc. NY raised its position in shares of Wynn Resorts by 56.5% in the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after purchasing an additional 482,570 shares during the last quarter. Norges Bank purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $106,289,000. Palidye Holdings Caymans Ltd acquired a new stake in Wynn Resorts in the 2nd quarter worth approximately $104,629,000. Finally, Raymond James Financial Inc. boosted its stake in Wynn Resorts by 5.3% in the 3rd quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock worth $142,582,000 after purchasing an additional 55,555 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN stock opened at $102.77 on Wednesday. The company has a market capitalization of $10.72 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 11.46 and a beta of 1.01. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72. The firm’s fifty day simple moving average is $109.15 and its 200-day simple moving average is $118.50.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.16). The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Texas Capital raised shares of Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Morgan Stanley cut their target price on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft set a $144.00 target price on Wynn Resorts in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.87.

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.