California State Teachers Retirement System Buys 18,079 Shares of Wynn Resorts, Limited $WYNN

Key Points

• California State Teachers Retirement System increased its Wynn Resorts stake by 23.1% in the first quarter, buying 18,079 shares and bringing its holdings to 96,228 shares valued at approximately $9.8 million. Institutional investors and hedge funds collectively own 88.64% of the company.
• Wynn Resorts reported quarterly earnings of $1.25 per share, exceeding estimates of $1.18, while revenue rose 9.2% year over year to $1.86 billion. The company also maintains a quarterly dividend of $0.25 per share, equivalent to a 1.0% annual yield.
• Despite analysts lowering several price targets, sentiment remains positive: Wynn has an average “Moderate Buy” rating and a consensus price target of $135.44, compared with a share price of $98.36.

California State Teachers Retirement System lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,228 shares of the casino operator's stock after acquiring an additional 18,079 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Wynn Resorts worth $9,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after purchasing an additional 89 shares in the last quarter. Horizon Investments LLC raised its stake in shares of Wynn Resorts by 6.7% in the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator's stock valued at $180,000 after purchasing an additional 94 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Wynn Resorts by 4.9% in the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator's stock valued at $210,000 after purchasing an additional 96 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Wynn Resorts by 21.6% during the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock worth $72,000 after buying an additional 100 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Wynn Resorts by 23.5% during the fourth quarter. Larson Financial Group LLC now owns 557 shares of the casino operator's stock worth $67,000 after buying an additional 106 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $98.36 on Tuesday. The stock's fifty day moving average price is $100.51 and its two-hundred day moving average price is $104.08. Wynn Resorts, Limited has a one year low of $92.52 and a one year high of $134.72. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 0.98 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter last year, the business earned $1.07 EPS. The company's quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts's dividend payout ratio is presently 29.85%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho reduced their target price on Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, July 28th. Stifel Nicolaus dropped their price target on Wynn Resorts from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, July 16th. Citigroup cut their price target on Wynn Resorts from $145.00 to $132.00 and set a "buy" rating for the company in a report on Friday, May 8th. Susquehanna reduced their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a "positive" rating for the company in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $135.44.

Wynn Resorts Profile

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.

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