Illinois Municipal Retirement Fund Buys 5,342 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Illinois Municipal Retirement Fund boosted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 61.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,971 shares of the casino operator's stock after acquiring an additional 5,342 shares during the period. Illinois Municipal Retirement Fund's holdings in Wynn Resorts were worth $1,167,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $117,352,000. Jericho Capital Asset Management L.P. bought a new position in Wynn Resorts in the fourth quarter worth $101,375,000. Raymond James Financial Inc. acquired a new stake in Wynn Resorts during the fourth quarter worth $75,872,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the period. Finally, Deutsche Bank AG increased its holdings in Wynn Resorts by 108.5% in the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock valued at $73,118,000 after buying an additional 441,558 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Stock Up 0.8%

WYNN traded up $0.84 during trading on Friday, hitting $105.52. The company's stock had a trading volume of 1,407,270 shares, compared to its average volume of 2,598,311. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.03 and a beta of 1.37. The firm's 50 day moving average price is $89.56 and its two-hundred day moving average price is $85.51. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The business's quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 earnings per share. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, May 16th. Wynn Resorts's dividend payout ratio is presently 27.78%.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the purchase, the insider directly owned 13,000,000 shares of the company's stock, valued at $879,060,000. This trade represents a 0.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This represents a 42.45% decrease in their position. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on WYNN. Stifel Nicolaus set a $113.00 price objective on shares of Wynn Resorts in a report on Wednesday, May 7th. Wall Street Zen cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Barclays lowered their price objective on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and a consensus price target of $112.82.

Wynn Resorts Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.