IFP Advisors Inc Lowers Position in Wynn Resorts, Limited (NASDAQ:WYNN)

IFP Advisors Inc trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 38.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,935 shares of the casino operator’s stock after selling 1,190 shares during the quarter. IFP Advisors Inc’s holdings in Wynn Resorts were worth $164,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors grew its holdings in Wynn Resorts by 1.0% in the second quarter. Capital International Investors now owns 8,866,726 shares of the casino operator’s stock valued at $1,084,381,000 after purchasing an additional 83,725 shares during the period. BlackRock Inc. grew its holdings in Wynn Resorts by 11.4% in the second quarter. BlackRock Inc. now owns 8,482,764 shares of the casino operator’s stock valued at $1,037,444,000 after purchasing an additional 867,116 shares during the period. State Street Corp lifted its position in Wynn Resorts by 1.7% during the second quarter. State Street Corp now owns 3,947,511 shares of the casino operator’s stock valued at $482,781,000 after buying an additional 66,705 shares in the last quarter. Morgan Stanley lifted its position in Wynn Resorts by 20.0% during the second quarter. Morgan Stanley now owns 1,336,851 shares of the casino operator’s stock valued at $163,498,000 after buying an additional 222,922 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Wynn Resorts by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 1,133,146 shares of the casino operator’s stock valued at $138,585,000 after buying an additional 14,351 shares in the last quarter. Hedge funds and other institutional investors own 68.03% of the company’s stock.

Shares of NASDAQ:WYNN opened at $91.20 on Thursday. The company has a fifty day simple moving average of $89.49 and a 200 day simple moving average of $104.16. The firm has a market cap of $10.55 billion, a PE ratio of -11.91 and a beta of 2.40. Wynn Resorts, Limited has a 12-month low of $78.55 and a 12-month high of $143.88.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, November 9th. The casino operator reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.07). During the same period last year, the company posted ($7.04) EPS. As a group, analysts forecast that Wynn Resorts, Limited will post -5.94 earnings per share for the current fiscal year.

In related news, Director Patricia Mulroy sold 400 shares of Wynn Resorts stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $92.17, for a total value of $36,868.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by insiders.

WYNN has been the topic of a number of recent research reports. Argus cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Friday, September 17th. Zacks Investment Research raised shares of Wynn Resorts from a “sell” rating to a “hold” rating and set a $102.00 price target on the stock in a research report on Monday, November 8th. Morgan Stanley lifted their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, November 10th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $107.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, November 10th. Finally, Citigroup reduced their target price on shares of Wynn Resorts from $120.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, September 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.67.

Wynn Resorts Company Profile

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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