New York State Teachers Retirement System Cuts Stake in Wynn Resorts, Limited $WYNN

Key Points

• The New York State Teachers Retirement System reduced its stake in Wynn Resorts by 11.5%, selling 8,965 shares to hold approximately 69,200 shares valued at $6.48 million.
• Several institutional investors have increased or initiated stakes in Wynn Resorts, with 88.64% of the company's stock now owned by institutional investors and hedge funds.
• Wynn Resorts recently announced a quarterly dividend of $0.25 per share, with an annualized payout representing a yield of 0.8% as of the end of August.

New York State Teachers Retirement System lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,200 shares of the casino operator's stock after selling 8,965 shares during the period. New York State Teachers Retirement System owned approximately 0.07% of Wynn Resorts worth $6,482,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Resolute Capital Asset Partners LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at $3,758,000. Oppenheimer & Co. Inc. acquired a new stake in Wynn Resorts in the 1st quarter valued at about $1,690,000. Oak Harvest Investment Services boosted its stake in shares of Wynn Resorts by 20.8% in the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator's stock valued at $2,677,000 after buying an additional 5,511 shares during the period. Strs Ohio acquired a new position in shares of Wynn Resorts during the first quarter worth about $7,515,000. Finally, Achmea Investment Management B.V. increased its stake in shares of Wynn Resorts by 41.1% during the first quarter. Achmea Investment Management B.V. now owns 12,400 shares of the casino operator's stock worth $1,036,000 after buying an additional 3,612 shares during the period. Institutional investors and hedge funds own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of recent research reports. Macquarie lifted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group lifted their price objective on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Wynn Resorts in a research note on Tuesday, October 14th. UBS Group upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and raised their price target for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Finally, Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price target for the company in a report on Wednesday, September 3rd. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $129.64.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $117.81 on Monday. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.23. The firm has a market capitalization of $12.25 billion, a P/E ratio of 35.38, a P/E/G ratio of 6.09 and a beta of 1.31. The company's fifty day moving average price is $121.23 and its 200 day moving average price is $102.23.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 EPS. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, August 18th. Wynn Resorts's dividend payout ratio (DPR) is currently 30.03%.

Wynn Resorts Company 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.

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