Allspring Global Investments Holdings LLC Reduces Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,751 shares of the casino operator’s stock after selling 231 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Wynn Resorts were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its holdings in shares of Wynn Resorts by 20,031.9% during the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after buying an additional 504,003 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Wynn Resorts by 20.7% during the third quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after buying an additional 248,820 shares in the last quarter. ING Groep NV grew its holdings in shares of Wynn Resorts by 1,657.3% during the third quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock worth $24,023,000 after buying an additional 245,165 shares in the last quarter. Barclays PLC grew its holdings in shares of Wynn Resorts by 41.6% during the third quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock worth $50,345,000 after buying an additional 160,054 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Wynn Resorts during the third quarter worth about $13,610,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Susquehanna boosted their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a report on Thursday, February 8th. Mizuho initiated coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price for the company. Barclays boosted their target price on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, UBS Group reduced their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Insiders sold a total of 26,578 shares of company stock worth $2,850,282 over the last 90 days. Insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 0.5 %

NASDAQ WYNN opened at $96.60 on Friday. The company’s fifty day simple moving average is $101.66 and its 200-day simple moving average is $95.06. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86. The stock has a market cap of $10.83 billion, a P/E ratio of 16.15 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business’s revenue was up 83.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.23) earnings per share. On average, research analysts expect that Wynn Resorts, Limited will post 5.37 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

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.