Public Employees Retirement System of Ohio Decreases Stock Position in Wynn Resorts, Limited $WYNN

Key Points

• The Public Employees Retirement System of Ohio reduced its equity stake in Wynn Resorts by 15.5%, now holding 26,756 shares valued at approximately $2.5 million.
• Analysts are generally optimistic about Wynn Resorts, with recent upgrades from firms like Argus and Goldman Sachs, and a consensus target price set at $127.33.
• Wynn Resorts recently announced a quarterly dividend of $0.25 per share, representing an annual yield of 0.8% and a payout ratio of 30.03%.

Public Employees Retirement System of Ohio cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,756 shares of the casino operator's stock after selling 4,914 shares during the period. Public Employees Retirement System of Ohio's holdings in Wynn Resorts were worth $2,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WYNN. Mackenzie Financial Corp purchased a new stake in shares of Wynn Resorts in the 4th quarter worth about $282,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Wynn Resorts in the 4th quarter worth about $1,361,000. GAMMA Investing LLC boosted its position in shares of Wynn Resorts by 9,135.7% in the 1st quarter. GAMMA Investing LLC now owns 266,449 shares of the casino operator's stock worth $22,248,000 after buying an additional 263,564 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Wynn Resorts by 14.5% in the 1st quarter. Rhumbline Advisers now owns 180,468 shares of the casino operator's stock worth $15,069,000 after buying an additional 22,875 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of Wynn Resorts by 2.6% in the 1st quarter. Czech National Bank now owns 20,573 shares of the casino operator's stock worth $1,718,000 after buying an additional 514 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent research reports. Argus upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 target price on the stock in a report on Wednesday, September 3rd. Morgan Stanley raised their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. started coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.33.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company's stock.

Wynn Resorts Stock Performance

WYNN opened at $132.03 on Thursday. The firm has a 50 day moving average price of $118.24 and a 200 day moving average price of $98.88. The company has a market cap of $13.73 billion, a PE ratio of 39.65, a price-to-earnings-growth ratio of 6.53 and a beta of 1.31. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.07.

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

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given 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 of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio is 30.03%.

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.

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