Retirement Systems of Alabama Lowers Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Retirement Systems of Alabama reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,435 shares of the casino operator’s stock after selling 396 shares during the quarter. Retirement Systems of Alabama’s holdings in Wynn Resorts were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its position in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Wynn Resorts by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares in the last quarter. Regal Partners Ltd increased its holdings in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Susquehanna raised their price target on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays decreased their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $88.95 on Friday. The firm has a market capitalization of $9.77 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. The business has a 50 day simple moving average of $93.82 and a two-hundred day simple moving average of $87.78. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that Wynn Resorts, Limited will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Wynn Resorts Company 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.