MassMutual Private Wealth & Trust FSB Sells 5,691 Shares of Wynn Resorts, Limited $WYNN

MassMutual Private Wealth & Trust FSB decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 35.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,182 shares of the casino operator’s stock after selling 5,691 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Wynn Resorts were worth $1,306,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in Wynn Resorts by 3,463.7% during the 3rd quarter. CoreCap Advisors LLC now owns 3,243 shares of the casino operator’s stock valued at $416,000 after purchasing an additional 3,152 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Wynn Resorts in the third quarter worth $238,000. Daymark Wealth Partners LLC bought a new position in shares of Wynn Resorts during the third quarter valued at $242,000. Asset Management One Co. Ltd. boosted its position in shares of Wynn Resorts by 4.7% during the third quarter. Asset Management One Co. Ltd. now owns 3,047 shares of the casino operator’s stock valued at $391,000 after buying an additional 138 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Wynn Resorts by 19.6% in the 3rd quarter. Global Retirement Partners LLC now owns 818 shares of the casino operator’s stock worth $105,000 after buying an additional 134 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn reached an agreement to build two new hotels near Encore Boston Harbor and support a commuter?rail stop in Everett — a meaningful capacity expansion for the Boston market that should lift room, F&B and convention revenue over time; the project also increases Wynn’s exposure to Greater Boston demand. Wynn Resorts to Build Two New Hotels Near Boston Encore Boston Harbor to expand with 2 new hotels in Everett Wynn Resorts, Everett reach deal on hotel and commuter rail development
• Neutral Sentiment: The expansion news has broad coverage (local and national outlets), which raises visibility for the Everett project but does not guarantee construction/timeline — investors should watch permitting, financing details and timetable. Wynn, DeMaria strike hotel and commuter-rail deal on Everett mayor’s last day in office
• Neutral Sentiment: Wynn’s Las Vegas/Resort venues are being used for high?profile events (Samsung at CES), which supports non?gaming revenue and brand exposure but has limited direct impact on near?term earnings. Samsung swaps show floor at CES for hall in Wynn resort
• Neutral Sentiment: Analyst/market commentary (Zacks) is highlighting consumer discretionary ideas; if WYNN is featured, that could draw short?term investor interest but it’s a secondary driver versus company execution and macro leisure demand. Why Investors Need to Take Advantage of These 2 Consumer Discretionary Stocks Now
• Negative Sentiment: The deal was finalized on the outgoing Everett mayor’s last day and has prompted criticism from the incoming mayor and some residents — raising political, permitting and reputational risk that could delay or alter the project and increase near?term uncertainty. Everett, Wynn Resorts reach last-minute deal as longtime mayor exits Exiting Everett Mayor Strikes Deal With Wynn For Hotels, Commuter Rail Stop

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WYNN. Macquarie reaffirmed an “outperform” rating and set a $143.00 price target on shares of Wynn Resorts in a report on Monday, December 8th. Stifel Nicolaus increased their price objective on shares of Wynn Resorts from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Barclays lifted their target price on shares of Wynn Resorts from $127.00 to $141.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Mizuho increased their price target on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Finally, UBS Group set a $164.00 price objective on Wynn Resorts in a report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.69.

Wynn Resorts Trading Down 3.5%

WYNN opened at $116.37 on Thursday. The firm’s 50 day simple moving average is $124.11 and its two-hundred day simple moving average is $118.47. The company has a market capitalization of $12.10 billion, a PE ratio of 26.03, a PEG ratio of 14.89 and a beta of 1.08. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company earned $0.90 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were given a $0.25 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s dividend payout ratio is presently 22.37%.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.