Public Employees Retirement Association of Colorado Sells 519 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Public Employees Retirement Association of Colorado lowered its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,329 shares of the casino operator’s stock after selling 519 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Wynn Resorts were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts in the second quarter worth about $25,000. ICA Group Wealth Management LLC bought a new position in shares of Wynn Resorts in the fourth quarter worth about $27,000. Register Financial Advisors LLC bought a new position in shares of Wynn Resorts in the first quarter worth about $37,000. Neo Ivy Capital Management bought a new position in shares of Wynn Resorts in the fourth quarter worth about $40,000. Finally, Versant Capital Management Inc bought a new position in shares of Wynn Resorts in the second quarter worth about $51,000. Institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $84.16 on Wednesday. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.04 and a beta of 1.80. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The business has a 50 day simple moving average of $78.21 and a 200-day simple moving average of $89.34.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. As a group, analysts expect that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Analysts Set New Price Targets

WYNN has been the subject of several research analyst reports. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Jefferies Financial Group cut their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. cut their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.73.

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.