Texas Permanent School Fund Corp Trims Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Texas Permanent School Fund Corp lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 20.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,764 shares of the casino operator’s stock after selling 3,942 shares during the period. Texas Permanent School Fund Corp’s holdings in Wynn Resorts were worth $1,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WYNN. Panagora Asset Management Inc. bought a new position in Wynn Resorts during the 4th quarter worth about $1,062,000. Norges Bank bought a new position in Wynn Resorts during the 4th quarter worth about $157,305,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Wynn Resorts by 416.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,056 shares of the casino operator’s stock worth $370,000 after acquiring an additional 3,270 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Wynn Resorts by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,192 shares of the casino operator’s stock worth $929,000 after acquiring an additional 336 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Wynn Resorts during the 4th quarter worth about $4,778,000. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Up 1.8 %

WYNN opened at $80.18 on Friday. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market capitalization of $8.90 billion, a PE ratio of 11.02, a P/E/G ratio of 2.04 and a beta of 1.80. The firm has a 50 day moving average of $78.54 and a two-hundred day moving average of $89.95.

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

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Analyst Ratings Changes

Several brokerages have issued reports on WYNN. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered 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. Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Five equities 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by insiders.

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.