Wynn Resorts, Limited (NASDAQ:WYNN) Holdings Trimmed by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,301 shares of the casino operator’s stock after selling 3,965 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Wynn Resorts worth $15,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Wynn Resorts during the 4th quarter worth about $117,352,000. Raymond James Financial Inc. acquired a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $75,872,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Weiss Asset Management LP acquired a new position in Wynn Resorts in the 3rd quarter valued at approximately $19,753,000. Finally, Bank of New York Mellon Corp lifted its position in Wynn Resorts by 23.5% in the 4th quarter. Bank of New York Mellon Corp now owns 685,512 shares of the casino operator’s stock worth $59,064,000 after buying an additional 130,349 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN opened at $70.09 on Friday. The company has a market capitalization of $7.44 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a one year low of $66.20 and a one year high of $108.50. The company’s fifty day moving average price is $85.25 and its 200 day moving average price is $89.16.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. Wynn Resorts’s dividend payout ratio is 23.75%.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction 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 $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now directly owns 10,905,025 shares of the company’s stock, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 38,700 shares of company stock worth $3,427,943. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Mizuho increased their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, Morgan Stanley reduced their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

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.