California State Teachers Retirement System Sells 6,526 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

California State Teachers Retirement System reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,273 shares of the casino operator’s stock after selling 6,526 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Wynn Resorts worth $14,056,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares during the period. Sunbelt Securities Inc. lifted its stake in Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC bought a new stake in Wynn Resorts during the fourth quarter worth about $38,000. Venturi Wealth Management LLC lifted its stake in 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 purchasing an additional 401 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in 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 last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock opened at $93.14 on Friday. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $112.25. The business’s 50 day moving average price is $97.91 and its two-hundred day moving average price is $96.26. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 12.76 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.58 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Mizuho began coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective on the stock. Macquarie lifted their price objective on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.79.

Get Our Latest Research Report on WYNN

Wynn Resorts Profile

(Free Report)

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.

Further Reading

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

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