Maryland State Retirement & Pension System Sells 716 Shares of Wynn Resorts, Limited $WYNN

Maryland State Retirement & Pension System lessened its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 15.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,059 shares of the casino operator’s stock after selling 716 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Wynn Resorts were worth $380,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Wynn Resorts by 1.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after acquiring an additional 132 shares during the last quarter. Navalign LLC increased its stake in Wynn Resorts by 1.8% in the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock worth $689,000 after buying an additional 144 shares during the period. Geneos Wealth Management Inc. increased its stake in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares during the period. Fifth Third Bancorp increased its stake in Wynn Resorts by 7.2% in the 1st quarter. Fifth Third Bancorp now owns 2,341 shares of the casino operator’s stock worth $195,000 after buying an additional 158 shares during the period. Finally, Global X Japan Co. Ltd. increased its stake in Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after buying an additional 175 shares during the period. Institutional investors own 88.64% of the company’s stock.

Analyst Ratings Changes

WYNN has been the topic of several recent analyst reports. Morgan Stanley raised their price target on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Mizuho raised their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Wednesday, September 3rd. The Goldman Sachs Group raised their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Stifel Nicolaus raised their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.71.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $112.52 on Tuesday. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 6.00 and a beta of 1.31. The company’s 50-day simple moving average is $120.44 and its two-hundred day simple moving average is $101.20. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business posted $1.12 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s payout ratio is presently 30.03%.

Insider Activity

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the transaction, the director owned 3,066 shares of the company’s stock, valued at $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

About Wynn Resorts

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.