6,669 Shares in Wynn Resorts, Limited $WYNN Acquired by Kentucky Retirement Systems

Kentucky Retirement Systems acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the 1st quarter, Holdings Channel.com reports. The firm acquired 6,669 shares of the casino operator’s stock, valued at approximately $677,000.

Other hedge funds have also made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the 2nd quarter worth $25,000. Hantz Financial Services Inc. increased 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 valued at $30,000 after buying an additional 89 shares during the period. Cromwell Holdings LLC raised its holdings in shares of Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares in the last quarter. SHP Wealth Management purchased a new stake in Wynn Resorts in the fourth quarter worth about $32,000. Finally, Geneos Wealth Management Inc. lifted its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after acquiring an additional 156 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WYNN shares. Stifel Nicolaus cut their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Zacks Research cut shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Susquehanna reduced their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research note on Thursday, April 16th. Finally, Citigroup lowered their target price on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.44.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $99.31 on Friday. The company has a market capitalization of $10.31 billion, a PE ratio of 29.64, a P/E/G ratio of 0.99 and a beta of 0.99. The company has a 50-day simple moving average of $100.49 and a two-hundred day simple moving average of $104.30. Wynn Resorts, Limited has a one year low of $92.52 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business earned $1.07 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts, Limited will post 4.49 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Wynn Resorts Company 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.