Strs Ohio Lowers Holdings in Wynn Resorts, Limited $WYNN

Key Points

• Strs Ohio sharply cut its stake in Wynn Resorts by 98.7% in the first quarter, selling 144,002 shares and leaving it with 1,825 shares worth about $185,000.
• Wynn Resorts beat earnings and revenue expectations for the quarter, reporting $1.25 EPS on $1.86 billion in revenue, with revenue up 9.2% year over year.
• Analysts remain broadly constructive on the stock, with a “Moderate Buy” consensus and an average price target of $138.75, though some firms have trimmed their targets recently.

Strs Ohio reduced its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 98.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,825 shares of the casino operator's stock after selling 144,002 shares during the period. Strs Ohio's holdings in Wynn Resorts were worth $185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts in the second quarter valued at $25,000. Hantz Financial Services Inc. grew its stake in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock worth $30,000 after purchasing an additional 89 shares in the last quarter. Cromwell Holdings LLC increased its holdings in Wynn Resorts by 68.2% during the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock worth $31,000 after purchasing an additional 103 shares during the period. SHP Wealth Management purchased a new stake in Wynn Resorts during the 4th quarter worth about $32,000. Finally, Geneos Wealth Management Inc. raised its position in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $99.77 on Monday. The company has a fifty day moving average of $101.23 and a two-hundred day moving average of $106.69. Wynn Resorts, Limited has a 1 year low of $93.15 and a 1 year high of $134.72. The company has a market capitalization of $10.36 billion, a PE ratio of 29.78, a P/E/G ratio of 0.93 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 EPS. On average, research analysts expect that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts's payout ratio is presently 29.85%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WYNN shares. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Jefferies Financial Group decreased their price target on shares of Wynn Resorts from $161.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Mizuho lowered their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an "outperform" rating for the company in a report on Tuesday, May 12th. Susquehanna dropped their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a "positive" rating on the stock in a research report on Thursday, April 16th. Finally, Wells Fargo & Company set a $142.00 price objective on shares of Wynn Resorts and gave the company an "overweight" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.75.

More Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Barclays maintained an overweight rating on Wynn Resorts and set a new $134 price target, implying meaningful upside from current levels. Wynn Resorts NASDAQ: WYNN Given New $134.00 Price Target at Barclays
• Positive Sentiment: Brokerage coverage still points to a “Moderate Buy” consensus, suggesting analysts remain broadly constructive on Wynn Resorts. Wynn Resorts, Limited NASDAQ: WYNN Given Consensus Recommendation of "Moderate Buy" by Brokerages
• Positive Sentiment: A Trefis article argues that casino operators with stronger profitability can look undervalued relative to peers, which may support the investment case for Wynn Resorts if investors focus on fundamentals. Same Price, Much Better Business: The LVS Gap
• Neutral Sentiment: Short-interest data showed 0 shares reported as short, making the update difficult to interpret as a real change in trading sentiment.
• Neutral Sentiment: Additional media coverage around Wynn properties and regional development is mostly promotional or informational, with limited direct impact on the stock.
• Negative Sentiment: Barclays did trim its price target from $139 to $134, which may signal slightly less bullish expectations even though the firm remains positive on the shares.

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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