Wynn Resorts, Limited (NASDAQ:WYNN) Position Reduced by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,805 shares of the casino operator’s stock after selling 200 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Wynn Resorts were worth $229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WYNN. State of Alaska Department of Revenue increased its holdings in shares of Wynn Resorts by 4.7% in the third quarter. State of Alaska Department of Revenue now owns 10,861 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 490 shares in the last quarter. Invictus Private Wealth LLC bought a new position in shares of Wynn Resorts in the third quarter valued at $240,000. Concurrent Investment Advisors LLC bought a new position in shares of Wynn Resorts in the third quarter valued at $240,000. Malaga Cove Capital LLC bought a new position in shares of Wynn Resorts in the third quarter valued at $466,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Wynn Resorts by 1.9% in the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after buying an additional 2,001 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

WYNN has been the topic of several research reports. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft dropped their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays lifted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Buying and Selling

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Stock Down 0.4 %

Wynn Resorts stock opened at $88.93 on Tuesday. The company’s fifty day simple moving average is $85.37 and its 200-day simple moving average is $88.05. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market cap of $9.46 billion, a P/E ratio of 21.12, a P/E/G ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

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.