Municipal Employees Retirement System of Michigan Decreases Holdings in Wynn Resorts, Limited (WYNN)

Municipal Employees Retirement System of Michigan trimmed its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,070 shares of the casino operator’s stock after selling 450 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Wynn Resorts were worth $308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sunbelt Securities Inc. lifted its stake in Wynn Resorts by 0.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,050 shares of the casino operator’s stock valued at $275,000 after acquiring an additional 8 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Wynn Resorts by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,932 shares of the casino operator’s stock valued at $796,000 after acquiring an additional 35 shares during the period. Cookson Peirce & Co. Inc. lifted its stake in Wynn Resorts by 1.3% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,230 shares of the casino operator’s stock valued at $433,000 after acquiring an additional 40 shares during the period. Global X Management Co. LLC lifted its stake in Wynn Resorts by 2.1% during the 2nd quarter. Global X Management Co. LLC now owns 2,127 shares of the casino operator’s stock valued at $285,000 after acquiring an additional 43 shares during the period. Finally, Wedbush Securities Inc. lifted its stake in shares of Wynn Resorts by 2.3% in the 2nd quarter. Wedbush Securities Inc. now owns 3,291 shares of the casino operator’s stock valued at $441,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 72.04% of the company’s stock.

Shares of Wynn Resorts, Limited (WYNN) opened at $159.54 on Monday. The company has a market cap of $16,397.84, a price-to-earnings ratio of 35.93 and a beta of 1.73. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. Wynn Resorts, Limited has a 1-year low of $85.57 and a 1-year high of $160.97.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, October 26th. The casino operator reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.24. Wynn Resorts had a net margin of 6.24% and a return on equity of 132.96%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was up 45.3% compared to the same quarter last year. analysts expect that Wynn Resorts, Limited will post 5.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 28th. Stockholders of record on Thursday, November 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Wednesday, November 15th. Wynn Resorts’s payout ratio is 55.25%.

In other news, EVP Kimmarie Sinatra sold 21,451 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $143.62, for a total transaction of $3,080,792.62. Following the completion of the sale, the executive vice president now owns 223,443 shares of the company’s stock, valued at $32,090,883.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Matt Maddox sold 59,260 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $155.12, for a total transaction of $9,192,411.20. The disclosure for this sale can be found here. Insiders have sold 159,406 shares of company stock valued at $23,864,344 in the last ninety days. Insiders own 13.20% of the company’s stock.

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Wynn Resorts from $148.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Citigroup boosted their target price on shares of Wynn Resorts to $161.00 and gave the company a “buy” rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $162.00 target price for the company in a research note on Tuesday, September 26th. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $134.00 to $153.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $157.00 target price (up from $150.00) on shares of Wynn Resorts in a research note on Monday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $148.49.

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About Wynn Resorts

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.

Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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