Illinois Municipal Retirement Fund Acquires Shares of 6,971 Wynn Resorts, Limited $WYNN

Illinois Municipal Retirement Fund bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,971 shares of the casino operator’s stock, valued at approximately $894,000.

Several other hedge funds also recently made changes to their positions in WYNN. Norges Bank bought a new stake in Wynn Resorts during the second quarter valued at $106,289,000. Palidye Holdings Caymans Ltd acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at about $104,629,000. Thrivent Financial for Lutherans grew its position in shares of Wynn Resorts by 6,391.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after buying an additional 737,234 shares during the last quarter. Greenwich Wealth Management LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at about $46,845,000. Finally, Bamco Inc. NY raised its stake in Wynn Resorts by 56.5% during the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after acquiring an additional 482,570 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Up 1.7%

WYNN stock opened at $116.31 on Thursday. The company has a 50-day simple moving average of $117.78 and a 200 day simple moving average of $120.31. The company has a market capitalization of $12.09 billion, a P/E ratio of 38.77, a PEG ratio of 10.40 and a beta of 1.06. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a negative return on equity of 38.04% and a net margin of 4.59%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 earnings per share. Equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, February 23rd. Wynn Resorts’s dividend payout ratio is 33.33%.

Analyst Ratings Changes

Several research firms have recently commented on WYNN. Susquehanna reaffirmed a “positive” rating and set a $133.00 target price on shares of Wynn Resorts in a report on Thursday, February 12th. Jefferies Financial Group boosted their price objective on Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $143.00 target price on shares of Wynn Resorts in a research report on Monday, December 8th. Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Morgan Stanley upped their price target on shares of Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.20.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.