California Public Employees Retirement System Trims Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

California Public Employees Retirement System decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,320 shares of the casino operator’s stock after selling 25,240 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Wynn Resorts worth $16,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WYNN. Blue Trust Inc. grew its holdings in Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after buying an additional 140 shares during the period. Venturi Wealth Management LLC boosted its holdings in Wynn Resorts by 1,083.8% in the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock valued at $40,000 after acquiring an additional 401 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in Wynn Resorts during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Trading Up 1.1 %

Shares of NASDAQ:WYNN opened at $96.98 on Tuesday. The firm has a market cap of $10.87 billion, a PE ratio of 16.22 and a beta of 1.93. The company has a fifty day simple moving average of $101.32 and a 200 day simple moving average of $95.12. Wynn Resorts, Limited has a 12-month low of $81.65 and a 12-month high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm earned ($1.23) earnings per share. The company’s revenue for the quarter was up 83.1% compared to the same quarter last year. As a group, equities research analysts forecast that Wynn Resorts, Limited will post 5.37 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s payout ratio is 16.72%.

Analysts Set New Price Targets

WYNN has been the subject of a number of research reports. UBS Group decreased their target price on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Wells Fargo & Company lifted their target price on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. boosted their price objective on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Susquehanna increased their target price on Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research note on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

Insider Activity

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Julie Cameron-Doe sold 6,383 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is currently owned by company 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.