Wynn Resorts, Limited (NASDAQ:WYNN) Stake Boosted by Commerce Bank

Commerce Bank raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 50.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,670 shares of the casino operator’s stock after buying an additional 2,574 shares during the quarter. Commerce Bank’s holdings in Wynn Resorts were worth $650,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Capital International Investors lifted its stake 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 buying an additional 83,725 shares during the last quarter. BlackRock Inc. lifted its stake 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 buying an additional 867,116 shares during the last quarter. State Street Corp lifted its stake in Wynn Resorts by 1.7% in 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 during the last quarter. Morgan Stanley lifted its stake in Wynn Resorts by 20.0% in 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 during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Wynn Resorts by 1.3% in 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 during the last quarter. Institutional investors own 63.07% of the company’s stock.

In other Wynn Resorts news, CEO Matt Maddox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 23rd. The stock was sold at an average price of $90.08, for a total transaction of $1,801,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia Mulroy sold 400 shares of the firm’s stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $92.17, for a total value of $36,868.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,495 shares of company stock valued at $2,198,009 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $101.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Friday, January 7th. Argus cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $140.00 to $131.00 and set a “buy” rating on the stock in a research note on Wednesday, November 10th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $89.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, November 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Wynn Resorts from $102.00 to $91.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 15th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.14.

Shares of WYNN opened at $91.47 on Friday. The business’s 50-day moving average price is $87.29 and its 200 day moving average price is $93.68. The stock has a market capitalization of $10.58 billion, a P/E ratio of -11.94 and a beta of 2.41. Wynn Resorts, Limited has a 1-year low of $76.03 and a 1-year 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 for the quarter, missing the Zacks’ consensus estimate of ($1.17) by ($0.07). The company had revenue of $994.64 million during the quarter, compared to analysts’ expectations of $987.11 million. During the same quarter in the prior year, the company earned ($7.04) earnings per share. Equities analysts anticipate that Wynn Resorts, Limited will post -6.03 EPS for the current year.

About Wynn Resorts

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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