State of New Jersey Common Pension Fund D Sells 3,523 Shares of Wynn Resorts, Limited $WYNN

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Wynn Resorts, Limited by 9.8%, selling 3,523 shares and retaining 32,409 shares valued at approximately $2.7 million.
• Wynn Resorts' stock has recently traded down 1.2%, and the company reported $1.09 earnings per share for the most recent quarter, missing expectations by $0.11.
• Analysts have a consensus target price of $118.64 for Wynn Resorts, with 12 analysts rating it as a Buy and three assigning a Hold rating.

State of New Jersey Common Pension Fund D decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 9.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,409 shares of the casino operator's stock after selling 3,523 shares during the period. State of New Jersey Common Pension Fund D's holdings in Wynn Resorts were worth $2,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. American Assets Inc. boosted its stake in Wynn Resorts by 52.2% during the fourth quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock valued at $879,000 after buying an additional 3,500 shares during the last quarter. Jump Financial LLC raised its position in Wynn Resorts by 122.4% during the fourth quarter. Jump Financial LLC now owns 5,127 shares of the casino operator's stock valued at $442,000 after purchasing an additional 2,822 shares during the period. Commerce Bank raised its holdings in shares of Wynn Resorts by 4.2% in the fourth quarter. Commerce Bank now owns 9,802 shares of the casino operator's stock worth $845,000 after buying an additional 399 shares during the period. First Trust Advisors LP raised its holdings in shares of Wynn Resorts by 2.7% in the fourth quarter. First Trust Advisors LP now owns 85,083 shares of the casino operator's stock worth $7,331,000 after buying an additional 2,251 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Wynn Resorts by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 613,343 shares of the casino operator's stock worth $52,845,000 after buying an additional 13,100 shares during the period. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Down 1.2%

Shares of NASDAQ WYNN opened at $111.51 on Thursday. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 6.00 and a beta of 1.41. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $113.25. The business's 50 day moving average is $103.79 and its two-hundred day moving average is $91.08.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations 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 was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. Analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts's dividend payout ratio is 30.03%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on WYNN shares. Macquarie raised their price objective on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Mizuho boosted their target price on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Barclays lifted their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Citigroup reissued a "neutral" rating and issued a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Finally, Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.64.

About Wynn Resorts

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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