LJI Wealth Management LLC Decreases Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

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

A number of other large investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its position in shares of Wynn Resorts by 16.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 116,130 shares of the casino operator’s stock worth $12,996,000 after buying an additional 16,448 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Wynn Resorts by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,087 shares of the casino operator’s stock worth $12,276,000 after purchasing an additional 23,919 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in shares of Wynn Resorts during the 1st quarter valued at $235,000. Vanguard Group Inc. boosted its position in shares of Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares in the last quarter. Finally, Covestor Ltd grew its stake in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after buying an additional 506 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Down 2.4 %

Shares of NASDAQ WYNN traded down $2.22 during trading on Friday, reaching $90.74. 3,816,948 shares of the company traded hands, compared to its average volume of 3,059,809. The stock has a market cap 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, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm’s fifty day simple moving average is $92.12 and its 200 day simple moving average is $88.26.

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

Wynn Resorts Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on WYNN. Wells Fargo & Company decreased their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Susquehanna lifted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Barclays dropped their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts 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.