State Treasurer State of Michigan Sells 4,700 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

State Treasurer State of Michigan decreased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 16.9% in the 2nd quarter, Holdings Channel reports. The fund owned 23,170 shares of the casino operator’s stock after selling 4,700 shares during the quarter. State Treasurer State of Michigan’s holdings in Wynn Resorts were worth $2,873,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WYNN. Egerton Capital UK LLP grew its stake in shares of Wynn Resorts by 201.7% during the 1st quarter. Egerton Capital UK LLP now owns 2,303,387 shares of the casino operator’s stock worth $274,840,000 after acquiring an additional 1,539,927 shares during the period. Pennsylvania Trust Co bought a new position in shares of Wynn Resorts during the 1st quarter worth $30,201,000. FMR LLC grew its stake in shares of Wynn Resorts by 75.3% during the 1st quarter. FMR LLC now owns 1,235,412 shares of the casino operator’s stock worth $147,409,000 after acquiring an additional 530,731 shares during the period. SG Americas Securities LLC grew its stake in shares of Wynn Resorts by 114.4% during the 1st quarter. SG Americas Securities LLC now owns 37,171 shares of the casino operator’s stock worth $4,435,000 after acquiring an additional 295,863 shares during the period. Finally, Long Pond Capital LP bought a new position in shares of Wynn Resorts during the 1st quarter worth $26,658,000. Institutional investors own 76.96% of the company’s stock.

NASDAQ WYNN traded down $2.60 during trading hours on Friday, hitting $108.91. The company had a trading volume of 1,477,221 shares, compared to its average volume of 1,893,080. Wynn Resorts, Limited has a 52 week low of $90.06 and a 52 week high of $151.93. The company’s 50 day moving average is $128.83. The company has a debt-to-equity ratio of 4.84, a current ratio of 1.19 and a quick ratio of 1.16. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.95.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.44 EPS for the quarter, hitting the consensus estimate of $1.44. Wynn Resorts had a return on equity of 35.45% and a net margin of 12.41%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company earned $1.53 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Friday, August 16th will be paid a $1.00 dividend. The ex-dividend date is Thursday, August 15th. This represents a $4.00 annualized dividend and a yield of 3.67%. Wynn Resorts’s dividend payout ratio is currently 61.16%.

Several research analysts have recently weighed in on WYNN shares. Jefferies Financial Group increased their price target on Wynn Resorts from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Telsey Advisory Group reiterated a “market perform” rating and set a $120.00 price target (down previously from $125.00) on shares of Wynn Resorts in a research note on Friday, May 10th. Barclays reiterated a “buy” rating on shares of Wynn Resorts in a research note on Wednesday, May 15th. Zacks Investment Research downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Finally, Stifel Nicolaus increased their price target on Wynn Resorts from $146.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $138.69.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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