State Board of Administration of Florida Retirement System boosted its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,128 shares of the casino operator’s stock after purchasing an additional 7,840 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Wynn Resorts worth $17,296,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in Wynn Resorts by 59.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 105,609 shares of the casino operator’s stock worth $17,653,000 after purchasing an additional 39,469 shares in the last quarter. Wright Investors Service Inc. purchased a new stake in Wynn Resorts in the 2nd quarter worth $437,000. Korea Investment CORP lifted its stake in Wynn Resorts by 3.2% in the 2nd quarter. Korea Investment CORP now owns 108,383 shares of the casino operator’s stock worth $18,137,000 after purchasing an additional 3,400 shares in the last quarter. Waddell & Reed Financial Inc. lifted its stake in Wynn Resorts by 281.4% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 247,880 shares of the casino operator’s stock worth $41,480,000 after purchasing an additional 182,880 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Wynn Resorts by 12.6% in the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after purchasing an additional 641,845 shares in the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.
Several analysts have commented on WYNN shares. BidaskClub upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Tuesday, July 17th. Stifel Nicolaus decreased their price target on shares of Wynn Resorts from $207.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Wynn Resorts in a research note on Wednesday, August 1st. Roth Capital decreased their price target on shares of Wynn Resorts from $210.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Argus cut shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 price target on the stock. in a research note on Tuesday, August 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $168.11.
Wynn Resorts stock opened at $98.32 on Friday. The stock has a market capitalization of $12.38 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.78 and a beta of 1.56. Wynn Resorts, Limited has a twelve month low of $92.50 and a twelve month high of $203.63. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.01). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.67 billion. Wynn Resorts had a net margin of 8.92% and a return on equity of 59.67%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 earnings per share. On average, equities analysts forecast that Wynn Resorts, Limited will post 7.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, November 20th. This represents a $3.00 annualized dividend and a yield of 3.05%. Wynn Resorts’s payout ratio is 54.95%.
COPYRIGHT VIOLATION NOTICE: “State Board of Administration of Florida Retirement System Has $17.30 Million Position in Wynn Resorts, Limited (WYNN)” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/11/10/state-board-of-administration-of-florida-retirement-system-has-17-30-million-position-in-wynn-resorts-limited-wynn.html.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
See Also: Price to Earnings Ratio (PE) Basics
Want to see what other hedge funds are holding WYNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wynn Resorts, Limited (NASDAQ:WYNN).
Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.