Wynn Resorts, Limited (WYNN) Shares Sold by State Treasurer State of Michigan

State Treasurer State of Michigan lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,270 shares of the casino operator’s stock after selling 2,000 shares during the quarter. State Treasurer State of Michigan’s holdings in Wynn Resorts, Limited were worth $3,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WYNN. Sunbelt Securities Inc. increased its position in shares of Wynn Resorts, Limited by 0.4% during the second quarter. Sunbelt Securities Inc. now owns 2,050 shares of the casino operator’s stock worth $275,000 after purchasing an additional 8 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Wynn Resorts, Limited by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,932 shares of the casino operator’s stock worth $796,000 after acquiring an additional 35 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in Wynn Resorts, Limited by 0.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 6,367 shares of the casino operator’s stock worth $854,000 after acquiring an additional 39 shares in the last quarter. Cookson Peirce & Co. Inc. increased its holdings in Wynn Resorts, Limited by 1.3% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,230 shares of the casino operator’s stock worth $433,000 after purchasing an additional 40 shares during the period. Finally, Global X Management Co. LLC increased its holdings in Wynn Resorts, Limited by 2.1% during the 2nd quarter. Global X Management Co. LLC now owns 2,127 shares of the casino operator’s stock worth $285,000 after purchasing an additional 43 shares during the period. 70.67% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Wynn Resorts, Limited (WYNN) Shares Sold by State Treasurer State of Michigan” was originally published by Week Herald and is the sole property of of Week Herald. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://weekherald.com/2017/11/14/wynn-resorts-limited-wynn-shares-sold-by-state-treasurer-state-of-michigan.html.

Wynn Resorts, Limited (NASDAQ:WYNN) traded up $1.21 during midday trading on Tuesday, hitting $155.24. 1,282,900 shares of the stock traded hands, compared to its average volume of 2,098,557. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. The stock has a market cap of $15,820.00, a price-to-earnings ratio of 34.69 and a beta of 1.72. Wynn Resorts, Limited has a 12-month low of $82.76 and a 12-month high of $156.40.

Wynn Resorts, Limited (NASDAQ:WYNN) last posted its earnings results on Thursday, October 26th. The casino operator reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.24. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.56 billion. Wynn Resorts, Limited had a return on equity of 132.96% and a net margin of 6.24%. The firm’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. analysts forecast that Wynn Resorts, Limited will post 5.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, November 15th. Wynn Resorts, Limited’s dividend payout ratio (DPR) is currently 55.40%.

A number of analysts recently issued reports on the company. UBS AG reissued a “buy” rating and issued a $174.00 target price (up from $149.00) on shares of Wynn Resorts, Limited in a research report on Friday, September 29th. Zacks Investment Research raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a research note on Tuesday, September 26th. Deutsche Bank AG raised Wynn Resorts, Limited from a “hold” rating to a “buy” rating and raised their price target for the stock from $138.00 to $150.00 in a research report on Tuesday, August 15th. Citigroup Inc. lifted their target price on Wynn Resorts, Limited to $161.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Roth Capital started coverage on Wynn Resorts, Limited in a research report on Thursday, October 26th. They set a “buy” rating and a $163.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Wynn Resorts, Limited has an average rating of “Buy” and an average target price of $148.11.

In other news, President Matt Maddox sold 42,900 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $143.44, for a total value of $6,153,576.00. Following the completion of the sale, the president now directly owns 350,586 shares of the company’s stock, valued at approximately $50,288,055.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kimmarie Sinatra sold 21,451 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $143.62, for a total value of $3,080,792.62. Following the transaction, the executive vice president now directly owns 223,443 shares of the company’s stock, valued at approximately $32,090,883.66. The disclosure for this sale can be found here. Insiders have sold 100,146 shares of company stock worth $14,671,932 in the last three months. 13.20% of the stock is currently owned by corporate insiders.

Wynn Resorts, Limited Profile

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Institutional Ownership by Quarter for Wynn Resorts, Limited (NASDAQ:WYNN)

Receive News & Ratings for Wynn Resorts Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply