Los Angeles Capital Management LLC Decreases Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Los Angeles Capital Management LLC lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 71.4% in the third quarter, HoldingsChannel reports. The firm owned 51,048 shares of the casino operator’s stock after selling 127,360 shares during the period. Los Angeles Capital Management LLC’s holdings in Wynn Resorts were worth $4,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in Wynn Resorts by 207.4% in the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after acquiring an additional 950 shares during the period. XML Financial LLC lifted its stake in shares of Wynn Resorts by 5.9% in the 3rd quarter. XML Financial LLC now owns 7,228 shares of the casino operator’s stock worth $693,000 after purchasing an additional 405 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Wynn Resorts by 1.9% in the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock worth $10,361,000 after buying an additional 2,001 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in Wynn Resorts during the third quarter valued at approximately $466,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Wynn Resorts during the third quarter valued at approximately $240,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WYNN shares. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Stifel Nicolaus lowered their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Finally, Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Up 2.6 %

WYNN opened at $86.48 on Tuesday. The company has a market capitalization of $9.50 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.80. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a 50-day simple moving average of $91.15 and a two-hundred day simple moving average of $88.36.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.9 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is currently owned by company insiders.

About Wynn Resorts

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.