Wynn Resorts, Limited $WYNN Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 11.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 69,200 shares of the casino operator’s stock after selling 8,965 shares during the period. New York State Teachers Retirement System’s holdings in Wynn Resorts were worth $6,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WYNN. AlphaQuest LLC purchased a new position in shares of Wynn Resorts in the 1st quarter valued at approximately $25,000. Dagco Inc. purchased a new stake in shares of Wynn Resorts during the first quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its holdings in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth $43,000. Finally, Garde Capital Inc. purchased a new position in Wynn Resorts in the 1st quarter valued at $73,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on WYNN. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 3rd. Mizuho raised their price objective on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, August 11th. UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $101.00 to $147.00 in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $123.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price target on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.64.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Up 1.6%

Shares of WYNN opened at $117.81 on Monday. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $134.23. The firm has a market capitalization of $12.25 billion, a P/E ratio of 35.38, a PEG ratio of 6.09 and a beta of 1.31. The firm’s 50-day moving average is $121.23 and its two-hundred day moving average is $102.23.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. Analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio is 30.03%.

Wynn Resorts Profile

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.