State of Michigan Retirement System Sells 200 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

State of Michigan Retirement System cut its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 0.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 26,072 shares of the casino operator’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Wynn Resorts were worth $2,665,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts during the 4th quarter valued at $27,000. Sunbelt Securities Inc. lifted its holdings in Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Wynn Resorts during the 1st quarter valued at $37,000. Finally, GAMMA Investing LLC acquired a new stake in Wynn Resorts during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the transaction, the director now owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 1.1 %

WYNN stock opened at $87.28 on Thursday. The company has a market cap of $9.78 billion, a PE ratio of 11.96 and a beta of 1.82. The business has a 50-day simple moving average of $93.16 and a 200 day simple moving average of $96.82. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. Wynn Resorts’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, analysts anticipate that Wynn Resorts, Limited will post 5.63 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research reports. Mizuho initiated coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Barclays lifted their target price on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Morgan Stanley lifted their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Thursday, May 23rd. Finally, Wells Fargo & Company dropped their target price on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.15.

Wynn Resorts Profile

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.