California Public Employees Retirement System Sells 25,240 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

California Public Employees Retirement System lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 12.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 184,320 shares of the casino operator’s stock after selling 25,240 shares during the quarter. California Public Employees Retirement System’s holdings in Wynn Resorts were worth $16,793,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after buying an additional 109 shares during the period. Federated Hermes Inc. raised its position in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC raised its position in shares of Wynn Resorts by 4.3% during the third quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,630 shares of the casino operator’s stock worth $323,000 after purchasing an additional 150 shares during the period. Mystic Asset Management Inc. lifted its holdings in shares of Wynn Resorts by 1.6% during the 3rd quarter. Mystic Asset Management Inc. now owns 11,131 shares of the casino operator’s stock valued at $1,029,000 after purchasing an additional 175 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Wynn Resorts by 2.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 7,934 shares of the casino operator’s stock valued at $733,000 after purchasing an additional 198 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WYNN. Mizuho began coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 price target on the stock. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Morgan Stanley boosted their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays increased their price objective on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

Wynn Resorts Stock Up 1.1 %

NASDAQ:WYNN opened at $96.98 on Tuesday. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 16.22 and a beta of 1.93. Wynn Resorts, Limited has a twelve month low of $81.65 and a twelve month high of $117.86. The stock’s 50 day moving average price is $101.32 and its two-hundred day moving average price is $95.12.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm’s revenue for the quarter was up 83.1% on a year-over-year basis. During the same period in the previous year, the company earned ($1.23) earnings per share. As a group, analysts anticipate that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were paid a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a yield of 1.03%. Wynn Resorts’s dividend payout ratio (DPR) is currently 16.72%.

Insider Buying and Selling

In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now owns 78,150 shares in the company, valued at $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the transaction, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,578 shares of company stock worth $2,850,282. Company insiders own 0.52% of the company’s stock.

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.