Oppenheimer & Co. Inc. Has $270,000 Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Oppenheimer & Co. Inc. lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,812 shares of the casino operator’s stock after selling 305 shares during the period. Oppenheimer & Co. Inc.’s holdings in Wynn Resorts were worth $270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Wynn Resorts in the 2nd quarter valued at $25,000. Blue Trust Inc. raised its stake in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new stake in Wynn Resorts during the second quarter worth about $51,000. GAMMA Investing LLC grew its stake in Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Wynn Resorts by 17.5% in 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 during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $91.29 on Friday. The business’s 50-day moving average is $93.59 and its 200 day moving average is $88.13. The stock has a market capitalization of $10.03 billion, a PE ratio of 11.26, a PEG ratio of 3.28 and a beta of 1.80. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend 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 12.33%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Morgan Stanley upped their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’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 transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

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.