Tidal Investments LLC Cuts Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Tidal Investments LLC cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,589 shares of the casino operator’s stock after selling 2,726 shares during the quarter. Tidal Investments LLC’s holdings in Wynn Resorts were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WYNN. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 2nd quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the 3rd quarter worth $31,000. Blue Trust Inc. increased its holdings in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after buying an additional 467 shares during the last quarter. Allworth Financial LP raised its position in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after acquiring an additional 900 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.7 %

Shares of Wynn Resorts stock opened at $88.95 on Friday. The stock’s fifty day moving average price is $93.82 and its 200-day moving average price is $87.78. The firm has a market cap of $9.77 billion, a P/E ratio of 10.97, a P/E/G ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business posted $0.99 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 4.79 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Analyst Upgrades and Downgrades

WYNN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. increased their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

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.