Public Employees Retirement System of Ohio Reduces Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Public Employees Retirement System of Ohio lowered its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,925 shares of the casino operator’s stock after selling 1,854 shares during the period. Public Employees Retirement System of Ohio’s holdings in Wynn Resorts were worth $3,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts in the second quarter worth approximately $25,000. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. Allworth Financial LP increased its stake in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after buying an additional 133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Wynn Resorts by 703.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after buying an additional 900 shares during the period. Finally, Covestor Ltd lifted its holdings in Wynn Resorts by 207.4% during the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock valued at $135,000 after buying an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays reduced their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Wells Fargo & Company cut their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Macquarie reissued an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $94.53 on Monday. The business’s 50-day simple moving average is $94.99 and its two-hundred day simple moving average is $87.81. The company has a market cap of $10.38 billion, a PE ratio of 11.66, a PEG ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Wynn Resorts’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts predict that Wynn Resorts, Limited will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.