LJI Wealth Management LLC Sells 600 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

LJI Wealth Management LLC lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,950 shares of the casino operator’s stock after selling 600 shares during the quarter. LJI Wealth Management LLC’s holdings in Wynn Resorts were worth $762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EntryPoint Capital LLC lifted its position in shares of Wynn Resorts by 7.2% in the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after buying an additional 117 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after acquiring an additional 120 shares in the last quarter. Allworth Financial LP boosted 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 acquiring an additional 133 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after purchasing an additional 149 shares in the last quarter. Finally, Garde Capital Inc. increased its position in Wynn Resorts by 10.1% in the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock worth $177,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on WYNN. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Susquehanna lifted their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 2.4 %

WYNN stock traded down $2.22 during trading on Friday, hitting $90.74. The company had a trading volume of 3,816,948 shares, compared to its average volume of 3,059,809. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a 50 day simple moving average of $92.12 and a 200-day simple moving average of $88.26. The firm has a market capitalization of $9.97 billion, a P/E ratio of 11.19, a PEG ratio of 3.35 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued 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). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue 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. Sell-side analysts forecast that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.