Strs Ohio Has $18.72 Million Stock Holdings in Wynn Resorts, Limited $WYNN

Strs Ohio lifted its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 58.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,967 shares of the casino operator’s stock after purchasing an additional 53,971 shares during the quarter. Strs Ohio’s holdings in Wynn Resorts were worth $18,723,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Wynn Resorts in the second quarter valued at about $106,289,000. Palidye Holdings Caymans Ltd bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $104,629,000. Thrivent Financial for Lutherans raised its holdings in Wynn Resorts by 6,391.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock worth $70,138,000 after buying an additional 737,234 shares during the period. Greenwich Wealth Management LLC bought a new position in Wynn Resorts in the second quarter valued at approximately $46,845,000. Finally, Bamco Inc. NY boosted its holdings in shares of Wynn Resorts by 56.5% in the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after buying an additional 482,570 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WYNN. Macquarie restated an “outperform” rating and set a $143.00 price objective on shares of Wynn Resorts in a report on Monday, December 8th. Mizuho lifted their price target on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Morgan Stanley upped their price objective on Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. The Goldman Sachs Group restated a “buy” rating and issued a $148.00 target price on shares of Wynn Resorts in a research note on Monday, December 15th. Finally, Texas Capital raised Wynn Resorts to a “strong-buy” rating in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $140.15.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $113.55 on Friday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $134.72. The company has a market cap of $11.81 billion, a P/E ratio of 25.40, a P/E/G ratio of 14.55 and a beta of 1.08. The stock’s 50-day simple moving average is $122.17 and its 200 day simple moving average is $119.84.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s payout ratio is presently 22.37%.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.