Sequoia Financial Advisors LLC Sells 502,708 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Sequoia Financial Advisors LLC decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 99.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,811 shares of the casino operator's stock after selling 502,708 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Wynn Resorts were worth $347,000 at the end of the most recent reporting period.

• How to Invest in Casino Stocks: Pros and Cons and More

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its position in Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator's stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator's stock worth $28,000 after buying an additional 300 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $45,000. Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 1,083.8% in the 4th quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator's stock valued at $40,000 after acquiring an additional 401 shares in the last quarter. Finally, RVW Wealth LLC acquired a new stake in shares of Wynn Resorts in the third quarter valued at about $47,000. 68.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Macquarie increased their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an "outperform" rating in a research report on Friday, February 9th. Bank Of America (Bofa) increased their price objective on Wynn Resorts from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 17th. Morgan Stanley raised their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price target on shares of Wynn Resorts from $122.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th. Finally, Mizuho began coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a "buy" rating and a $131.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Wynn Resorts has a consensus rating of "Moderate Buy" and an average price target of $121.36.

• Are These 5 Undervalued Stocks Ready to Break Out?

View Our Latest Stock Report on WYNN

Wynn Resorts Stock Down 1.4 %

Shares of NASDAQ:WYNN opened at $96.10 on Friday. The stock has a market cap of $10.77 billion, a PE ratio of 16.07 and a beta of 1.93. Wynn Resorts, Limited has a 12-month low of $81.65 and a 12-month high of $117.86. The business has a 50 day moving average of $102.49 and a 200-day moving average of $94.84.

• Profit pillars: 5 Dividend aristocrats for reliable income

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the firm posted ($1.23) EPS. The company's revenue for the quarter was up 83.1% on a year-over-year basis. Equities research analysts expect that Wynn Resorts, Limited will post 5.38 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts's dividend payout ratio (DPR) is 16.72%.

Insider Buying and Selling at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the transaction, the chief executive officer now directly owns 307,904 shares of the company's stock, valued at $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares of the company's stock, valued at approximately $33,253,632. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of the firm's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the transaction, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Insiders sold 26,578 shares of company stock valued at $2,850,282 in the last quarter. Company insiders own 0.52% of the company's stock.

Wynn Resorts Profile

(Free Report)

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.

See Also

• Five stocks we like better than Wynn Resorts
• What Are Dividends? Buy the Best Dividend Stocks
• Comprehensive PepsiCo Stock Analysis
• Uptrend Stocks Explained: Learn How to Trade Using Uptrends
• CSX Co.: The Railroad Powering Ahead with an Earnings Beat
• 3 Ways To Invest In Coffee, Other Than Drinking It
• Bear Market Funds to Watch This Year

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ You’re invited: Biggest crypto event of 2024 (From InvestorPlace) (Ad)

Should you invest $1,000 in Wynn Resorts right now?

Before you consider Wynn Resorts, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wynn Resorts wasn't on the list.

While Wynn Resorts currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here