Public Employees Retirement System of Ohio Acquires New Shares in Wynn Resorts, Limited $WYNN

Public Employees Retirement System of Ohio acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 22,246 shares of the casino operator’s stock, valued at approximately $2,160,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Wynn Resorts by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP increased its stake in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after buying an additional 2,012 shares during the period. Geneos Wealth Management Inc. raised its holdings in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock valued at $155,000 after buying an additional 201 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after buying an additional 868 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research raised shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Wolfe Research initiated coverage on shares of Wynn Resorts in a report on Wednesday. They set an “outperform” rating and a $128.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $128.00 price objective on shares of Wynn Resorts in a research note on Wednesday, July 22nd. Bank of America decreased their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.82.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $91.54 on Monday. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.10 and a beta of 1.00. Wynn Resorts, Limited has a 52-week low of $89.44 and a 52-week high of $134.72. The firm has a 50 day moving average price of $97.90 and a two-hundred day moving average price of $101.56.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the firm posted $1.09 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Wynn Resorts’s dividend payout ratio is 24.81%.

Wynn Resorts Profile

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.