US Bancorp DE Cuts Stake in Wynn Resorts, Limited $WYNN

US Bancorp DE cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 23.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,950 shares of the casino operator’s stock after selling 2,087 shares during the period. US Bancorp DE’s holdings in Wynn Resorts were worth $651,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Clear Creek Financial Management LLC purchased a new stake in Wynn Resorts in the second quarter valued at about $576,000. DAVENPORT & Co LLC increased its holdings in shares of Wynn Resorts by 53.4% during the second quarter. DAVENPORT & Co LLC now owns 913,086 shares of the casino operator’s stock valued at $85,895,000 after acquiring an additional 317,850 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $43,000. PFG Investments LLC acquired a new stake in Wynn Resorts in the 2nd quarter worth approximately $222,000. Finally, Truist Financial Corp grew its position in Wynn Resorts by 15.5% during the 2nd quarter. Truist Financial Corp now owns 8,861 shares of the casino operator’s stock worth $830,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WYNN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a report on Tuesday, October 14th. Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Macquarie boosted their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. The Goldman Sachs Group raised their price objective on Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Mizuho upped their target price on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.64.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director directly owned 3,066 shares of the company’s stock, valued at $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Up 1.6%

Shares of WYNN stock opened at $117.81 on Monday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The stock has a market cap of $12.25 billion, a P/E ratio of 35.38, a P/E/G ratio of 6.09 and a beta of 1.31. The stock has a 50 day moving average of $121.23 and a 200 day moving average of $102.23.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. On average, research analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s payout ratio is presently 30.03%.

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.