Harvest Portfolios Group Inc. Trims Holdings in Wynn Resorts, Limited $WYNN

Harvest Portfolios Group Inc. cut its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,384 shares of the casino operator’s stock after selling 2,044 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Wynn Resorts were worth $973,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in shares of Wynn Resorts during the first quarter valued at approximately $1,143,000. Cerity Partners LLC raised its holdings in Wynn Resorts by 12.8% in the 1st quarter. Cerity Partners LLC now owns 65,079 shares of the casino operator’s stock valued at $5,434,000 after acquiring an additional 7,392 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Wynn Resorts by 5.3% during the 1st quarter. New York State Common Retirement Fund now owns 59,684 shares of the casino operator’s stock worth $4,984,000 after purchasing an additional 3,000 shares during the period. CWM LLC boosted its holdings in shares of Wynn Resorts by 34.7% during the first quarter. CWM LLC now owns 2,861 shares of the casino operator’s stock worth $239,000 after purchasing an additional 737 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Wynn Resorts by 69.9% in the first quarter. Signaturefd LLC now owns 2,924 shares of the casino operator’s stock valued at $244,000 after purchasing an additional 1,203 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $126.14 on Friday. The stock has a 50-day simple moving average of $123.52 and a 200-day simple moving average of $107.26. The stock has a market capitalization of $13.12 billion, a P/E ratio of 37.88, a PEG ratio of 4.94 and a beta of 1.32. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last posted 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). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. Analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is currently 30.03%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WYNN. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted their price target on Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Barclays increased their price objective on shares of Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Finally, Jefferies Financial Group increased their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.58.

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.