New York State Teachers Retirement System lowered its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 131,165 shares of the casino operator’s stock after selling 2,791 shares during the period. New York State Teachers Retirement System owned 0.13% of Wynn Resorts, Limited worth $15,033,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Wynn Resorts, Limited by 83.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the casino operator’s stock worth $117,000 after buying an additional 462 shares during the last quarter. Mercer Capital Advisers Inc. purchased a new stake in Wynn Resorts, Limited during the first quarter worth approximately $143,000. Gulf International Bank UK Ltd boosted its stake in Wynn Resorts, Limited by 13.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,639 shares of the casino operator’s stock worth $187,000 after buying an additional 200 shares during the last quarter. Newman Dignan & Sheerar Inc. purchased a new stake in Wynn Resorts, Limited during the first quarter worth approximately $210,000. Finally, Ledyard National Bank purchased a new stake in Wynn Resorts, Limited during the first quarter worth approximately $211,000. Institutional investors own 75.21% of the company’s stock.
Wynn Resorts, Limited (NASDAQ WYNN) traded down 0.93% on Tuesday, reaching $137.13. 1,359,631 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $127.79 and a 200-day moving average price of $108.26. Wynn Resorts, Limited has a 52 week low of $82.51 and a 52 week high of $138.79. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 52.12 and a beta of 1.70.
Wynn Resorts, Limited (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, April 25th. The casino operator reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Wynn Resorts, Limited had a return on equity of 264.58% and a net margin of 5.41%. The company’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. On average, analysts predict that Wynn Resorts, Limited will post $4.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Thursday, May 11th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, May 9th. Wynn Resorts, Limited’s dividend payout ratio is presently 76.05%.
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A number of equities research analysts have commented on the stock. BidaskClub upgraded shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a research note on Friday. Instinet restated a “neutral” rating and set a $137.00 target price (up previously from $130.00) on shares of Wynn Resorts, Limited in a research note on Monday. Vetr upgraded shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $135.52 target price on the stock in a research note on Monday, June 12th. Deutsche Bank AG restated a “hold” rating and set a $138.00 target price on shares of Wynn Resorts, Limited in a research note on Monday, June 5th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $145.00 target price (up previously from $110.00) on shares of Wynn Resorts, Limited in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $121.83.
In other news, EVP Kimmarie Sinatra sold 22,624 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $129.12, for a total transaction of $2,921,210.88. Following the completion of the transaction, the executive vice president now directly owns 221,067 shares in the company, valued at approximately $28,544,171.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Matt Maddox sold 60,000 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $124.25, for a total value of $7,455,000.00. Following the transaction, the president now owns 354,895 shares of the company’s stock, valued at $44,095,703.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,000 shares of company stock valued at $10,808,977. Company insiders own 13.20% of the company’s stock.
Wynn Resorts, Limited Company Profile
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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