American International Group Inc. Sells 273 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Posted by Defense World Staff on Jun 6th, 2023

American International Group Inc. cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,989 shares of the casino operator’s stock after selling 273 shares during the period. American International Group Inc.’s holdings in Wynn Resorts were worth $2,308,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Dupont Capital Management Corp acquired a new position in Wynn Resorts during the 4th quarter worth $25,000. UMB Bank n.a. lifted its holdings in Wynn Resorts by 200.0% during the 4th quarter. UMB Bank n.a. now owns 300 shares of the casino operator’s stock worth $25,000 after buying an additional 200 shares in the last quarter. Hanseatic Management Services Inc. acquired a new position in Wynn Resorts during the 4th quarter worth $36,000. Penserra Capital Management LLC lifted its holdings in Wynn Resorts by 62.6% during the 3rd quarter. Penserra Capital Management LLC now owns 504 shares of the casino operator’s stock worth $31,000 after buying an additional 194 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Wynn Resorts by 106.0% during the 4th quarter. First Horizon Advisors Inc. now owns 511 shares of the casino operator’s stock worth $42,000 after buying an additional 263 shares in the last quarter. 70.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on WYNN shares. TheStreet raised Wynn Resorts from a “d+” rating to a “c-” rating in a report on Tuesday, April 4th. Deutsche Bank Aktiengesellschaft increased their price target on Wynn Resorts from $134.00 to $140.00 in a research note on Thursday, May 11th. Wells Fargo & Company increased their price target on Wynn Resorts from $128.00 to $134.00 and gave the company an “overweight” rating in a research note on Thursday, April 13th. Credit Suisse Group increased their price target on Wynn Resorts from $117.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Finally, Stifel Nicolaus increased their price target on Wynn Resorts from $127.00 to $137.00 in a research note on Wednesday, May 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.18.

Wynn Resorts Trading Up 0.2 %

WYNN stock opened at $100.57 on Tuesday. The business’s 50-day moving average price is $108.26 and its two-hundred day moving average price is $100.64. Wynn Resorts, Limited has a 1-year low of $50.20 and a 1-year high of $117.86.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The casino operator reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.47. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business earned ($1.21) EPS. The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. As a group, analysts expect that Wynn Resorts, Limited will post 1.7 earnings per share for the current year.

Wynn Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Tuesday, May 23rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, May 22nd. Wynn Resorts’s dividend payout ratio is -46.73%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 1,100 shares of Wynn Resorts stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $101.65, for a total value of $111,815.00. Following the sale, the director now owns 1,982 shares of the company’s stock, valued at $201,470.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Craig Scott Billings sold 10,901 shares of Wynn Resorts stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $103.26, for a total value of $1,125,637.26. Following the sale, the chief executive officer now owns 255,781 shares of the company’s stock, valued at $26,411,946.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Patricia Mulroy sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $101.65, for a total value of $111,815.00. Following the transaction, the director now directly owns 1,982 shares in the company, valued at approximately $201,470.30. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

About Wynn Resorts

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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, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.