Strs Ohio Trims Stock Position in Wynn Resorts, Limited $WYNN

Strs Ohio trimmed its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 98.7% in the first quarter, Holdings Channel reports. The fund owned 1,825 shares of the casino operator’s stock after selling 144,002 shares during the period. Strs Ohio’s holdings in Wynn Resorts were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. raised its stake in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. Cromwell Holdings LLC increased its stake in Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares during the period. MUFG Securities EMEA plc purchased a new position in Wynn Resorts during the 2nd quarter worth $25,000. SHP Wealth Management acquired a new stake in shares of Wynn Resorts in the 4th quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Key Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Barclays maintained an overweight rating on Wynn Resorts and set a new $134 price target, implying meaningful upside from current levels. Wynn Resorts (NASDAQ:WYNN) Given New $134.00 Price Target at Barclays
• Positive Sentiment: Brokerage coverage still points to a “Moderate Buy” consensus, suggesting analysts remain broadly constructive on Wynn Resorts. Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Positive Sentiment: A Trefis article argues that casino operators with stronger profitability can look undervalued relative to peers, which may support the investment case for Wynn Resorts if investors focus on fundamentals. Same Price, Much Better Business: The LVS Gap
• Neutral Sentiment: Short-interest data showed 0 shares reported as short, making the update difficult to interpret as a real change in trading sentiment.
• Neutral Sentiment: Additional media coverage around Wynn properties and regional development is mostly promotional or informational, with limited direct impact on the stock.
• Negative Sentiment: Barclays did trim its price target from $139 to $134, which may signal slightly less bullish expectations even though the firm remains positive on the shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Morgan Stanley cut their target price on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Susquehanna decreased their price target on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Citigroup cut their price objective on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Wynn Resorts in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.75.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $99.77 on Monday. The business has a 50 day moving average price of $101.23 and a 200 day moving average price of $106.69. The company has a market capitalization of $10.36 billion, a P/E ratio of 29.78, a PEG ratio of 0.93 and a beta of 0.99. Wynn Resorts, Limited has a 1-year low of $93.15 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio is 29.85%.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.