Kentucky Retirement Systems Invests $677,000 in Wynn Resorts, Limited $WYNN

Kentucky Retirement Systems bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,669 shares of the casino operator’s stock, valued at approximately $677,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Egerton Capital UK LLP bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $249,053,000. Palidye Holdings Caymans Ltd bought a new stake in shares of Wynn Resorts in the second quarter worth about $104,629,000. Norges Bank purchased a new stake in shares of Wynn Resorts in the fourth quarter worth about $122,696,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Wynn Resorts in the third quarter worth about $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Wynn Resorts by 9.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after buying an additional 320,502 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Down 1.4%

WYNN opened at $99.31 on Friday. The business has a fifty day moving average of $100.49 and a 200 day moving average of $104.30. The stock has a market cap of $10.31 billion, a P/E ratio of 29.64, a PEG ratio of 0.99 and a beta of 0.99. Wynn Resorts, Limited has a 52-week low of $92.52 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 earnings per share. Equities analysts anticipate that Wynn Resorts, Limited will post 4.49 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WYNN. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a report on Friday, May 8th. Zacks Research lowered shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, Jefferies Financial Group dropped their price target on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.44.

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.