Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.4% during the fourth quarter, Holdings Channel reports. The firm owned 19,671 shares of the casino operator’s stock after selling 686 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wynn Resorts were worth $1,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts in the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts in the third quarter worth about $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts during the 4th quarter valued at approximately $36,000. Spire Wealth Management grew its holdings in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 1.4 %

Wynn Resorts stock opened at $86.03 on Wednesday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a fifty day simple moving average of $85.86 and a two-hundred day simple moving average of $89.13. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Macquarie restated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Mizuho boosted their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus raised their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta acquired 11,475 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the acquisition, the insider now directly owns 12,600,000 shares of the company’s stock, valued at approximately $1,070,118,000. The trade was a 0.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 38,700 shares of company stock valued at $3,427,943. Company insiders own 0.52% of the company’s stock.

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.