Louisiana State Employees Retirement System Buys Shares of 5,800 Wynn Resorts, Limited (NASDAQ:WYNN)

Louisiana State Employees Retirement System bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, HoldingsChannel.com reports. The fund bought 5,800 shares of the casino operator’s stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WYNN. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after buying an additional 300 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Wynn Resorts by 1,083.8% during the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after buying an additional 401 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Wynn Resorts during the fourth quarter worth $46,000. Finally, CX Institutional bought a new position in shares of Wynn Resorts in the 4th quarter valued at $166,000. Institutional investors own 68.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WYNN shares. UBS Group reduced their price objective on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Mizuho initiated coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target on the stock. Barclays raised their price objective on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Susquehanna boosted their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Finally, Macquarie raised their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.43.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares in the company, valued at $54,898.74. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock worth $2,850,282 in the last quarter. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 1.1 %

WYNN stock opened at $96.98 on Tuesday. The firm has a market cap of $10.87 billion, a price-to-earnings ratio of 16.22 and a beta of 1.93. The company’s fifty day simple moving average is $101.32 and its 200 day simple moving average is $95.12. Wynn Resorts, Limited has a 12-month low of $81.65 and a 12-month high of $117.86.

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

Wynn Resorts Announces Dividend

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

Wynn Resorts 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.