State of New Jersey Common Pension Fund D Sells 2,225 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

State of New Jersey Common Pension Fund D lessened its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,892 shares of the casino operator’s stock after selling 2,225 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wynn Resorts were worth $3,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WYNN. Interval Partners LP raised its position in shares of Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after purchasing an additional 364,432 shares during the period. Renaissance Technologies LLC lifted its position in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 6,720.4% during the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after acquiring an additional 253,761 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Wynn Resorts by 1.5% in 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 during the last quarter. Institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WYNN shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays lowered their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Four 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 an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $85.50 on Wednesday. The company’s 50 day moving average price is $91.35 and its two-hundred day moving average price is $88.29. The firm has a market capitalization of $9.39 billion, a P/E ratio of 10.54, a P/E/G ratio of 2.41 and a beta of 1.80. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. On average, analysts expect that Wynn Resorts, Limited will post 4.9 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

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.