New York State Teachers Retirement System Reduces Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,773 shares of the casino operator’s stock after selling 2,697 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Wynn Resorts worth $9,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Wynn Resorts by 200.0% during the 4th quarter. UMB Bank n.a. now owns 300 shares of the casino operator’s stock worth $25,000 after purchasing an additional 200 shares during the period. Dupont Capital Management Corp purchased a new position in shares of Wynn Resorts during the 4th quarter worth $25,000. Penserra Capital Management LLC grew its holdings in shares of Wynn Resorts by 62.6% during the 3rd quarter. Penserra Capital Management LLC now owns 504 shares of the casino operator’s stock worth $31,000 after purchasing an additional 194 shares during the period. Mach 1 Financial Group LLC purchased a new position in shares of Wynn Resorts during the 3rd quarter worth $34,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Wynn Resorts during the 4th quarter worth $36,000. 70.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Wynn Resorts from $128.00 to $134.00 in a report on Thursday. Barclays increased their target price on Wynn Resorts from $115.00 to $117.00 in a research note on Wednesday. TheStreet raised Wynn Resorts from a “d+” rating to a “c-” rating in a research note on Tuesday, April 4th. Morgan Stanley increased their target price on Wynn Resorts from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Finally, Bank of America increased their target price on Wynn Resorts from $85.00 to $90.00 in a research note on Wednesday, January 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.18.

Wynn Resorts Stock Up 0.7 %

WYNN stock opened at $110.99 on Friday. The business’s 50-day moving average is $108.62 and its two-hundred day moving average is $89.59. Wynn Resorts, Limited has a 1 year low of $50.20 and a 1 year high of $117.17.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last issued its earnings results on Wednesday, February 8th. The casino operator reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.06). The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $955.88 million. During the same quarter in the previous year, the business earned ($1.37) earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. On average, equities research analysts predict that Wynn Resorts, Limited will post 1.02 EPS for the current fiscal year.

Insider Transactions at Wynn Resorts

In other news, CEO Craig Scott Billings sold 10,310 shares of the firm’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $102.35, for a total transaction of $1,055,228.50. Following the sale, the chief executive officer now owns 266,206 shares of the company’s stock, valued at approximately $27,246,184.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Craig Scott Billings sold 10,310 shares of the firm’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $102.35, for a total transaction of $1,055,228.50. Following the sale, the chief executive officer now owns 266,206 shares of the company’s stock, valued at approximately $27,246,184.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Julie Cameron-Doe sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total value of $432,320.00. Following the transaction, the chief financial officer now owns 65,970 shares in the company, valued at approximately $7,130,037.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,594 shares of company stock valued at $3,749,917. Corporate insiders own 0.62% of the company’s stock.

About Wynn Resorts

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Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.