New York State Teachers Retirement System Trims Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

New York State Teachers Retirement System decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,165 shares of the casino operator's stock after selling 2,543 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Wynn Resorts worth $6,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its stake in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock worth $27,000 after acquiring an additional 175 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after buying an additional 409 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $36,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $45,000. Finally, Garde Capital Inc. acquired a new stake in shares of Wynn Resorts in the first quarter valued at $73,000. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Trading Up 1.8%

Shares of Wynn Resorts stock traded up $1.96 on Tuesday, hitting $110.63. The stock had a trading volume of 1,014,404 shares, compared to its average volume of 2,596,058. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $111.54. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 3.05 and a beta of 1.37. The company's 50 day moving average price is $90.56 and its 200 day moving average price is $85.70.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. Analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of research reports. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research note on Wednesday, May 7th. The Goldman Sachs Group initiated coverage on Wynn Resorts in a research note on Monday. They issued a "buy" rating and a $122.00 price objective for the company. UBS Group lifted their price objective on Wynn Resorts from $83.00 to $101.00 and gave the company a "neutral" rating in a research note on Tuesday. Mizuho lowered their target price on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. initiated coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 target price for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $112.62.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director directly owned 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company's stock.

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.