New York State Teachers Retirement System trimmed its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the period. Geode Capital Management LLC lifted its position in Wynn Resorts by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after buying an additional 26,792 shares in the last quarter. Jefferies Financial Group Inc. lifted its position in Wynn Resorts by 9.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares in the last quarter. Renaissance Technologies LLC lifted its position in Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after buying an additional 228,000 shares in the last quarter. Finally, Norges Bank acquired a new position in Wynn Resorts during the fourth quarter valued at approximately $117,352,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
WYNN has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Stifel Nicolaus set a $113.00 price target on shares of Wynn Resorts in a research report on Wednesday, May 7th. Argus cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. Finally, Bank of America raised shares of 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. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $112.82.
Read Our Latest Stock Report on Wynn Resorts
Insider Activity
In other news, 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 transaction, the director owned 3,066 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tilman J. Fertitta purchased 100,000 shares of the stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider directly owned 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78% increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by corporate insiders.
Wynn Resorts Stock Up 0.8%
WYNN stock traded up $0.84 during trading on Friday, hitting $105.52. 1,407,270 shares of the company's stock traded hands, compared to its average volume of 2,601,014. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The stock has a fifty day moving average price of $90.03 and a two-hundred day moving average price of $85.58. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 3.05 and a beta of 1.37.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released 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). The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter 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 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The company also recently declared 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 0.95%. Wynn Resorts's dividend payout ratio is currently 27.78%.
About Wynn Resorts
(
Free Report)
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.
Featured Articles
Before you consider Wynn Resorts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wynn Resorts wasn't on the list.
While Wynn Resorts currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
