Commerce Bank Buys 2,574 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Commerce Bank grew its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 50.5% during the third quarter, Holdings Channel.com reports. The firm owned 7,670 shares of the casino operator’s stock after acquiring an additional 2,574 shares during the period. Commerce Bank’s holdings in Wynn Resorts were worth $650,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of WYNN. BlackRock Inc. boosted 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 worth $1,037,444,000 after purchasing an additional 867,116 shares in the last quarter. Amundi acquired a new position in Wynn Resorts in the second quarter worth $28,609,000. State of Wisconsin Investment Board boosted its stake in Wynn Resorts by 478.8% in the second quarter. State of Wisconsin Investment Board now owns 277,819 shares of the casino operator’s stock worth $33,977,000 after purchasing an additional 229,816 shares in the last quarter. Morgan Stanley boosted 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 worth $163,498,000 after purchasing an additional 222,922 shares in the last quarter. Finally, PM CAPITAL Ltd boosted its stake in Wynn Resorts by 44.7% in the third quarter. PM CAPITAL Ltd now owns 553,738 shares of the casino operator’s stock worth $46,929,000 after purchasing an additional 171,172 shares in the last quarter. 63.07% of the stock is currently owned by institutional investors.

NASDAQ WYNN opened at $91.47 on Friday. The stock has a 50-day simple moving average of $87.29 and a 200 day simple moving average of $93.68. The company has a market capitalization of $10.58 billion, a PE ratio of -11.94 and a beta of 2.41. Wynn Resorts, Limited has a 12 month low of $76.03 and a 12 month high of $143.88.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, November 9th. The casino operator reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.07). The company had revenue of $994.64 million during the quarter, compared to analyst estimates of $987.11 million. During the same period in the previous year, the company earned ($7.04) EPS. On average, equities research analysts predict that Wynn Resorts, Limited will post -6.03 EPS for the current year.

A number of equities analysts have commented on the company. Morgan Stanley boosted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 10th. Stifel Nicolaus upped their price target on Wynn Resorts from $107.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, November 10th. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $89.00 to $101.00 and gave the company a “neutral” rating in a research note on Wednesday, November 10th. Wells Fargo & Company cut their price target on 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. Finally, Argus lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Friday, September 17th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Hold” and a consensus target price of $112.14.

In related news, CEO Matt Maddox sold 20,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Betsy S. Atkins sold 4,095 shares of the stock in a transaction dated Wednesday, December 8th. The stock was sold at an average price of $87.80, for a total value of $359,541.00. The disclosure for this sale can be found here. Insiders sold 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.

Wynn Resorts Company Profile

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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