State of Tennessee Department of Treasury Grows Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

State of Tennessee Department of Treasury grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 73.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,791 shares of the casino operator's stock after acquiring an additional 10,041 shares during the period. State of Tennessee Department of Treasury's holdings in Wynn Resorts were worth $2,050,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in Wynn Resorts in the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts in the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management increased its holdings in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after buying an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts in the fourth quarter worth approximately $45,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WYNN shares. Morgan Stanley cut their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. 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. Barclays dropped their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and increased their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $118.17.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded down $0.27 on Thursday, reaching $80.04. The company's stock had a trading volume of 1,771,744 shares, compared to its average volume of 2,480,877. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The stock's 50-day moving average is $81.21 and its two-hundred day moving average is $86.48. The stock has a market capitalization of $8.50 billion, a P/E ratio of 19.01, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's payout ratio is currently 23.75%.

Insider Buying and Selling

In other news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the acquisition, the insider now directly owns 10,905,025 shares in the company, valued at $883,197,974.75. This represents a 0.05 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip G. Satre purchased 22,200 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is owned by insiders.

About Wynn Resorts

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.