California State Teachers Retirement System Has $9.09 Million Stock Holdings in Wynn Resorts, Limited $WYNN

Key Points

• California State Teachers Retirement System reduced its Wynn Resorts stake by 2.7% in the second quarter, selling 2,570 shares and retaining 93,658 shares valued at approximately $9.09 million.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $133.35, despite target reductions from Mizuho and Wells Fargo.
• Wynn Resorts reported quarterly EPS of $1.24, beating estimates of $0.99, while revenue rose 6.9% year over year to $1.86 billion; the stock traded near $87.34 and paid a quarterly dividend of $0.25.

California State Teachers Retirement System decreased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,658 shares of the casino operator's stock after selling 2,570 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Wynn Resorts worth $9,093,255 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after buying an additional 89 shares during the last quarter. SHP Wealth Management purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $32,000. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the fourth quarter worth approximately $34,000. Operose Advisors LLC grew its position in shares of Wynn Resorts by 400.0% during the 2nd quarter. Operose Advisors LLC now owns 500 shares of the casino operator's stock worth $49,000 after buying an additional 400 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Wynn Resorts by 70.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the casino operator's stock worth $51,000 after buying an additional 176 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WYNN shares. Mizuho cut their price target on Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, July 28th. Citigroup restated a "buy" rating on shares of Wynn Resorts in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Truist Financial started coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They set a "buy" rating and a $125.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.35.

Wynn Resorts Stock Down 0.5%

WYNN traded down $0.42 on Tuesday, reaching $87.34. 689,087 shares of the company traded hands, compared to its average volume of 1,570,095. Wynn Resorts, Limited has a one year low of $86.80 and a one year high of $134.72. The firm has a fifty day simple moving average of $97.05 and a two-hundred day simple moving average of $100.57. The company has a market cap of $8.99 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Wynn Resorts, Limited will post 4.55 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts's dividend payout ratio is currently 24.81%.

Wynn Resorts Profile

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.

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