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

Louisiana State Employees Retirement System cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,300 shares of the casino operator’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Wynn Resorts were worth $474,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WYNN. International Assets Investment Management LLC increased its holdings in shares of Wynn Resorts by 4,067.4% in the 4th quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator’s stock worth $699,000 after buying an additional 7,484 shares during the last quarter. Federated Hermes Inc. grew its holdings in Wynn Resorts by 47.5% during the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after purchasing an additional 140 shares during the last quarter. CWM LLC grew its holdings in Wynn Resorts by 9.6% during the 4th quarter. CWM LLC now owns 2,354 shares of the casino operator’s stock valued at $214,000 after purchasing an additional 206 shares during the last quarter. GAMMA Investing LLC bought a new position in Wynn Resorts during the 4th quarter valued at about $38,000. Finally, Yousif Capital Management LLC grew its holdings in Wynn Resorts by 30.1% during the 4th quarter. Yousif Capital Management LLC now owns 13,484 shares of the casino operator’s stock valued at $1,229,000 after purchasing an additional 3,121 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley cut their price target on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average target price of $116.73.

Wynn Resorts Stock Up 1.8 %

Shares of Wynn Resorts stock opened at $76.88 on Friday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a 50 day moving average of $81.13 and a 200 day moving average of $92.35. The company has a market capitalization of $8.62 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.72 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.59 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Wynn Resorts’s payout ratio is 13.70%.

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.