VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 13,000 Wynn Resorts, Limited $WYNN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,000 shares of the casino operator’s stock, valued at approximately $1,668,000.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC acquired a new stake in Wynn Resorts in the first quarter worth about $25,000. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. Manchester Capital Management LLC raised its stake in shares of Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after buying an additional 300 shares during the last quarter. MTM Investment Management LLC acquired a new position in Wynn Resorts in the second quarter valued at approximately $31,000. Finally, Geneos Wealth Management Inc. boosted its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Price Performance

WYNN stock opened at $122.57 on Friday. The stock has a market capitalization of $12.74 billion, a P/E ratio of 27.42, a P/E/G ratio of 6.79 and a beta of 1.10. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.72. The business has a 50-day moving average of $124.32 and a 200-day moving average of $117.60.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WYNN. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday. The Goldman Sachs Group reissued a “buy” rating and issued a $148.00 target price on shares of Wynn Resorts in a research note on Monday, December 15th. Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. UBS Group set a $164.00 target price on shares of Wynn Resorts in a report on Wednesday, December 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $140.69.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.