State of Michigan Retirement System Sells 400 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

State of Michigan Retirement System lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,072 shares of the casino operator’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Wynn Resorts were worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in Wynn Resorts during the 3rd quarter worth $240,000. Principal Financial Group Inc. increased its position in shares of Wynn Resorts by 1.9% in the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock worth $10,361,000 after purchasing an additional 2,001 shares during the period. XML Financial LLC increased its position in shares of Wynn Resorts by 5.9% in the third quarter. XML Financial LLC now owns 7,228 shares of the casino operator’s stock worth $693,000 after purchasing an additional 405 shares during the period. Covestor Ltd increased its position in shares of Wynn Resorts by 207.4% in the third quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after purchasing an additional 950 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock worth $18,098,000 after purchasing an additional 7,850 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.6 %

Shares of WYNN stock opened at $88.72 on Friday. The business’s 50-day moving average price is $85.35 and its 200-day moving average price is $88.32. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Analysts Set New Price Targets

WYNN has been the topic of a number of recent analyst reports. Barclays raised their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Mizuho raised their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is owned by insiders.

Wynn Resorts Company 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.