Public Employees Retirement System of Ohio Acquires Shares of 22,246 Wynn Resorts, Limited $WYNN

Key Points

• Public Employees Retirement System of Ohio acquired 22,246 Wynn Resorts shares worth approximately $2.16 million, while institutional investors collectively own 88.64% of the company.
• Wynn Resorts reported quarterly EPS of $1.24, beating the $0.99 consensus estimate, while revenue rose 6.9% year over year to $1.86 billion. The company also declared a $0.25 quarterly dividend, implying a 1.1% yield.
• Shares opened at $91.54, near the lower end of their 52-week range, while analysts maintain a “Moderate Buy” consensus with an average price target of $133.82.

Public Employees Retirement System of Ohio bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,246 shares of the casino operator's stock, valued at approximately $2,160,000.

Several other hedge funds also recently made changes to their positions in WYNN. Hantz Financial Services Inc. grew its position in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after buying an additional 89 shares in the last quarter. Horizon Investments LLC lifted its position in shares of Wynn Resorts by 6.7% during the 4th quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator's stock valued at $180,000 after acquiring an additional 94 shares during the period. QRG Capital Management Inc. lifted its position in shares of Wynn Resorts by 4.9% during the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator's stock valued at $210,000 after acquiring an additional 96 shares during the period. Parallel Advisors LLC grew its holdings in shares of Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator's stock worth $72,000 after purchasing an additional 100 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Wynn Resorts by 23.5% during the 4th quarter. Larson Financial Group LLC now owns 557 shares of the casino operator's stock worth $67,000 after purchasing an additional 106 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $91.54 on Monday. The stock's 50-day simple moving average is $97.90 and its 200 day simple moving average is $101.56. The firm has a market capitalization of $9.43 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. Wynn Resorts, Limited has a twelve month low of $89.44 and a twelve month high of $134.72.

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

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

WYNN has been the subject of several recent analyst reports. Zacks Research raised shares of Wynn Resorts from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. decreased their target price 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. Weiss Ratings restated a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Bank of America cut their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company reduced their price target on shares of 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 analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.82.

About Wynn Resorts

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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