By otakuyassine3@gmail.com 
New Mexico Educational Retirement Board cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,444 shares of the casino operator’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Wynn Resorts were worth $383,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the business. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Wynn Resorts in the third quarter valued at approximately $31,000. Spire Wealth Management grew its stake in shares of Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after buying an additional 467 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.
Insider Activity at Wynn Resorts
In other news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by corporate insiders.
Wynn Resorts Price Performance
NASDAQ WYNN opened at $91.21 on Wednesday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The business has a 50 day simple moving average of $85.45 and a 200 day simple moving average of $87.06. The stock has a market capitalization of $10.02 billion, a P/E ratio of 11.25, a P/E/G ratio of 2.32 and a beta of 1.76.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Equities analysts expect that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.
Wynn Resorts Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $0.25 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s dividend payout ratio is presently 12.33%.
Analyst Upgrades and Downgrades
WYNN has been the subject of a number of recent research reports. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the stock from $105.00 to $118.00 in a report on Tuesday. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wynn Resorts has a consensus rating of “Buy” and a consensus target price of $120.58.
View Our Latest Analysis on Wynn Resorts
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.
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