Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,671 shares of the casino operator’s stock after selling 686 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Wynn Resorts were worth $1,695,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. New Wave Wealth Advisors LLC purchased a new position in shares of Wynn Resorts during the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts during the third quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the fourth quarter worth about $36,000. Spire Wealth Management increased its stake in shares of Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after purchasing an additional 122 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $86.03 on Wednesday. The firm has a fifty day moving average of $85.86 and a 200 day moving average of $89.13. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $9.13 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is 23.75%.

Insider Activity

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the transaction, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 38,700 shares of company stock valued at $3,427,943. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WYNN shares. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Barclays raised their price objective 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts 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.