Texas Permanent School Fund Corp Reduces Stake in Wynn Resorts, Limited $WYNN

Texas Permanent School Fund Corp reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 39.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,130 shares of the casino operator’s stock after selling 4,062 shares during the period. Texas Permanent School Fund Corp’s holdings in Wynn Resorts were worth $574,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Wynn Resorts during the second quarter valued at $106,289,000. Palidye Holdings Caymans Ltd purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at $104,629,000. Thrivent Financial for Lutherans grew its stake in shares of 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 acquiring an additional 737,234 shares during the period. Greenwich Wealth Management LLC purchased a new stake in Wynn Resorts in the 2nd quarter worth about $46,845,000. Finally, Bamco Inc. NY raised its stake in Wynn Resorts by 56.5% in the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after acquiring an additional 482,570 shares during the period. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WYNN shares. Zacks Research downgraded shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Jefferies Financial Group lifted their price objective on shares of Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Macquarie reissued an “outperform” rating and set a $143.00 target price on shares of Wynn Resorts in a report on Monday, December 8th. Stifel Nicolaus raised their price target on Wynn Resorts from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Finally, Mizuho lifted their price target on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.69.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $124.36 on Friday. The firm has a fifty day moving average price of $124.47 and a two-hundred day moving average price of $116.41. The company has a market cap of $12.93 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 8.58 and a beta of 1.10. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.72.

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

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

Wynn Resorts Company Profile

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.