First City Capital Management Inc. Sells 1,093 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

First City Capital Management Inc. trimmed its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 34.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,099 shares of the casino operator’s stock after selling 1,093 shares during the quarter. First City Capital Management Inc.’s holdings in Wynn Resorts were worth $201,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Regal Partners Ltd raised its holdings in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. UniSuper Management Pty Ltd lifted its holdings in Wynn Resorts by 540.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after purchasing an additional 8,590 shares during the last quarter. Vanguard Group Inc. boosted its stake in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the period. Cetera Investment Advisers grew its holdings in Wynn Resorts by 326.5% in the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after buying an additional 19,889 shares in the last quarter. Finally, Crystal Rock Capital Management bought a new position in Wynn Resorts during the 3rd quarter worth $719,000. 68.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WYNN. Morgan Stanley upped their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $90.46 on Tuesday. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market capitalization of $9.93 billion, a PE ratio of 11.15, a P/E/G ratio of 3.26 and a beta of 1.80. The company has a fifty day moving average of $92.39 and a two-hundred day moving average of $88.17.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 EPS. Research analysts forecast that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

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.