Kentucky Retirement Systems Insurance Trust Fund Sells 277 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.1% during the third quarter, HoldingsChannel.com reports. The fund owned 2,769 shares of the casino operator’s stock after selling 277 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Wynn Resorts were worth $265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Regal Partners Ltd grew its position in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after purchasing an additional 8,590 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Wynn Resorts by 326.5% during the first quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after purchasing an additional 19,889 shares in the last quarter. Finally, Crystal Rock Capital Management acquired a new stake in shares of Wynn Resorts during the third quarter valued at about $719,000. Institutional investors own 68.87% of the company’s stock.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of the business’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 owns 5,689 shares in the company, valued at $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WYNN shares. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Macquarie reissued an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley lifted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Barclays cut their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $91.25 on Wednesday. The company has a market cap of $10.02 billion, a P/E ratio of 11.25, a PEG ratio of 3.26 and a beta of 1.80. The stock has a 50 day simple moving average of $92.71 and a two-hundred day simple moving average of $88.13. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, research analysts predict that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s dividend payout ratio is 12.33%.

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.