California State Teachers Retirement System Cuts Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

California State Teachers Retirement System decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,613 shares of the casino operator's stock after selling 24,829 shares during the period. California State Teachers Retirement System owned 0.13% of Wynn Resorts worth $11,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts in the fourth quarter worth approximately $36,000. Spire Wealth Management boosted its position in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after acquiring an additional 234 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the 4th quarter valued at $45,000. Finally, Venturi Wealth Management LLC boosted its position in Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after acquiring an additional 122 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $1.13 during trading on Wednesday, hitting $86.62. 828,756 shares of the stock traded hands, compared to its average volume of 2,565,953. The firm has a market capitalization of $9.06 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.35 and a beta of 1.33. The firm's fifty day moving average price is $82.92 and its 200-day moving average price is $85.89. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Wynn Resorts's dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Macquarie reissued an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a research note on Wednesday, May 7th. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and lifted their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.18.

Insider Activity at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 11,475 shares of the business's stock in a transaction on Monday, March 24th. The stock was bought at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the transaction, the insider now owns 12,600,000 shares in the company, valued at $1,070,118,000. This represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the sale, the director now directly owns 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 416,500 shares of company stock worth $29,254,547 in the last 90 days. 0.52% of the stock is owned by 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.