California State Teachers Retirement System increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 23.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,228 shares of the casino operator’s stock after purchasing an additional 18,079 shares during the period. California State Teachers Retirement System’s holdings in Wynn Resorts were worth $9,772,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of WYNN. Egerton Capital UK LLP bought a new stake in Wynn Resorts during the fourth quarter worth about $249,053,000. Palidye Holdings Caymans Ltd bought a new position in Wynn Resorts in the 2nd quarter valued at about $104,629,000. Norges Bank bought a new position in Wynn Resorts in the 4th quarter valued at about $122,696,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Wynn Resorts in the 3rd quarter valued at approximately $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Wynn Resorts by 9.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after buying an additional 320,502 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Mizuho lowered their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Susquehanna lowered 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 report on Thursday, April 16th. The Goldman Sachs Group set a $120.00 target price on Wynn Resorts in a research note on Wednesday, July 15th. Finally, Citigroup reduced their target price on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $135.44.
Wynn Resorts Trading Down 1.0%
WYNN stock opened at $98.36 on Tuesday. The firm has a 50-day moving average price of $100.51 and a 200-day moving average price of $104.08. Wynn Resorts, Limited has a 12 month low of $92.52 and a 12 month high of $134.72. The stock has a market capitalization of $10.21 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.01.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.49 EPS for the current fiscal year.
Wynn Resorts Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 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.
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