California State Teachers Retirement System Sells 3,587 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

California State Teachers Retirement System lowered its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,686 shares of the casino operator’s stock after selling 3,587 shares during the period. California State Teachers Retirement System owned about 0.13% of Wynn Resorts worth $15,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sei Investments Co. raised its position in Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. acquired a new position in shares of Wynn Resorts in the 1st quarter worth approximately $2,461,000. CIBC Private Wealth Group LLC acquired a new stake in Wynn Resorts in the 4th quarter valued at $1,376,000. UniSuper Management Pty Ltd grew its position in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after acquiring an additional 8,590 shares during the period. Finally, Vanguard Group Inc. raised its stake in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several analyst reports. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, July 18th. Macquarie cut their target price on shares of Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating for the company in a research note on Tuesday, July 9th. Stifel Nicolaus increased their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Mizuho started coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Four research 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.53.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $76.64 on Friday. Wynn Resorts, Limited has a one year low of $75.89 and a one year high of $110.38. The firm has a market cap of $8.59 billion, a P/E ratio of 10.78 and a beta of 1.82. The stock’s 50-day moving average is $87.87 and its 200-day moving average is $95.51.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. Equities analysts anticipate that Wynn Resorts, Limited will post 5.62 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Activity at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is owned by insiders.

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.