Strs Ohio Buys Shares of 90,000 Wynn Resorts, Limited $WYNN

Key Points

• Strs Ohio has acquired a new stake in Wynn Resorts, purchasing 90,000 shares valued at approximately $7.5 million, giving them a total ownership of 0.09% in the company.
• Several other institutional investors have also invested in Wynn Resorts, with institutional ownership reaching 88.64% of the company's stock.
• Wall Street analysts remain optimistic about Wynn Resorts, with a consensus rating of "Moderate Buy" and an average price target of $124.47.

Strs Ohio bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 90,000 shares of the casino operator's stock, valued at approximately $7,515,000. Strs Ohio owned 0.09% of Wynn Resorts at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Resolute Capital Asset Partners LLC bought a new stake in Wynn Resorts during the 1st quarter valued at $3,758,000. Oppenheimer & Co. Inc. bought a new position in shares of Wynn Resorts in the first quarter worth $1,690,000. Oak Harvest Investment Services increased its holdings in shares of Wynn Resorts by 20.8% in the first quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator's stock worth $2,677,000 after purchasing an additional 5,511 shares during the period. Mackenzie Financial Corp bought a new position in shares of Wynn Resorts in the fourth quarter worth $282,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Wynn Resorts by 19.6% in the first quarter. Wedge Capital Management L L P NC now owns 56,807 shares of the casino operator's stock worth $4,743,000 after purchasing an additional 9,298 shares during the period. Institutional investors own 88.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WYNN. Macquarie increased their target price on Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Barclays increased their target price on Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup restated a "neutral" rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Mizuho upped their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group upped their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $124.47.

Wynn Resorts Price Performance

WYNN stock opened at $121.45 on Monday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $128.53. The company has a market cap of $12.63 billion, a P/E ratio of 36.47, a PEG ratio of 6.25 and a beta of 1.37. The firm has a 50-day moving average of $113.64 and a 200 day moving average of $95.45.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results 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). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the business posted $1.12 EPS. Wynn Resorts's revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts's dividend payout ratio (DPR) is 30.03%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 4,438 shares of the firm's 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 $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by company insiders.

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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