Oak Thistle LLC Reduces Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Oak Thistle LLC reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 31.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,976 shares of the casino operator’s stock after selling 2,271 shares during the quarter. Oak Thistle LLC’s holdings in Wynn Resorts were worth $509,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after buying an additional 270 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Wynn Resorts during the fourth quarter worth $27,000. Sunbelt Securities Inc. boosted its stake in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares during the period. Register Financial Advisors LLC bought a new position in shares of Wynn Resorts in the first quarter worth about $37,000. Finally, GAMMA Investing LLC purchased a new position in Wynn Resorts in the 4th quarter worth about $38,000. Institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on WYNN. Barclays upped their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Morgan Stanley raised their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Thursday, May 23rd. Stifel Nicolaus increased their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Three 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.31.

Insider Activity

In other news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 2.0 %

Shares of Wynn Resorts stock traded down $1.83 during trading on Monday, reaching $87.67. The company’s stock had a trading volume of 1,893,324 shares, compared to its average volume of 1,782,241. The company has a 50-day simple moving average of $93.61 and a two-hundred day simple moving average of $96.90. Wynn Resorts, Limited has a 1-year low of $81.65 and a 1-year high of $112.25. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 12.01 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.59 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.