Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,159 shares of the casino operator’s stock after selling 740 shares during the quarter. Retirement Systems of Alabama’s holdings in Wynn Resorts were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Wynn Resorts by 83.1% in the fourth quarter. Russell Investments Group Ltd. now owns 22,273 shares of the casino operator’s stock valued at $2,034,000 after buying an additional 10,107 shares in the last quarter. Private Wealth Partners LLC grew its stake in shares of Wynn Resorts by 104.9% in the fourth quarter. Private Wealth Partners LLC now owns 4,765 shares of the casino operator’s stock valued at $434,000 after buying an additional 2,440 shares in the last quarter. Truist Financial Corp grew its stake in shares of Wynn Resorts by 6.6% in the fourth quarter. Truist Financial Corp now owns 16,094 shares of the casino operator’s stock valued at $1,466,000 after buying an additional 1,002 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Wynn Resorts by 30.1% in the fourth quarter. Yousif Capital Management LLC now owns 13,484 shares of the casino operator’s stock valued at $1,229,000 after buying an additional 3,121 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $38,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WYNN. Stifel Nicolaus lifted their price objective on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays boosted their target price on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Mizuho assumed coverage on Wynn Resorts in a research note on Thursday, April 4th. They set a “buy” rating and a $131.00 target price for the company. Bank Of America (Bofa) boosted their target price on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $122.64.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $95.75 on Thursday. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. The business has a 50-day moving average of $100.24 and a two-hundred day moving average of $95.39. Wynn Resorts, Limited has a 1 year low of $81.65 and a 1 year high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 30.9% on a year-over-year basis. As a group, equities research analysts expect 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 will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Wynn Resorts’s payout ratio is currently 16.72%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the business’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 transaction of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the business’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 transaction of $100,963.20. Following the transaction, the director now owns 522 shares in the company, valued at approximately $54,898.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of the business’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 transaction, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

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.