Retirement Systems of Alabama Has $3.41 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Posted by Defense World Staff on Jul 28th, 2023

Retirement Systems of Alabama trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,478 shares of the casino operator’s stock after selling 2,556 shares during the period. Retirement Systems of Alabama’s holdings in Wynn Resorts were worth $3,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Michigan Retirement System lifted its stake in Wynn Resorts by 0.4% in the 4th quarter. State of Michigan Retirement System now owns 28,072 shares of the casino operator’s stock valued at $2,315,000 after acquiring an additional 100 shares in the last quarter. Tredje AP fonden boosted its stake in shares of Wynn Resorts by 0.5% during the 4th quarter. Tredje AP fonden now owns 21,841 shares of the casino operator’s stock worth $1,801,000 after buying an additional 100 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Wynn Resorts by 11.0% in the 1st quarter. Allworth Financial LP now owns 1,019 shares of the casino operator’s stock valued at $114,000 after acquiring an additional 101 shares in the last quarter. Retirement Planning Co of New England Inc. raised its holdings in Wynn Resorts by 3.6% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 3,898 shares of the casino operator’s stock worth $321,000 after acquiring an additional 137 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Wynn Resorts by 22.7% during the first quarter. Geneos Wealth Management Inc. now owns 758 shares of the casino operator’s stock valued at $85,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 63.65% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Wynn Resorts from $134.00 to $140.00 in a research report on Thursday, May 11th. Wells Fargo & Company increased their price target on shares of Wynn Resorts from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, July 13th. Citigroup upped their target price on shares of Wynn Resorts from $134.50 to $138.00 in a report on Wednesday, May 10th. Stifel Nicolaus lifted their price target on Wynn Resorts from $127.00 to $137.00 in a report on Wednesday, May 10th. Finally, StockNews.com initiated coverage on Wynn Resorts in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.20.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 1,100 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $101.65, for a total transaction of $111,815.00. Following the completion of the transaction, the director now directly owns 1,982 shares in the company, valued at $201,470.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.62% of the company’s stock.

Wynn Resorts Trading Down 1.3 %

Shares of WYNN stock opened at $108.15 on Friday. The stock has a market cap of $12.31 billion, a P/E ratio of -50.54 and a beta of 2.02. The stock has a 50 day simple moving average of $104.55 and a 200 day simple moving average of $106.24. Wynn Resorts, Limited has a 1 year low of $53.81 and a 1 year high of $117.86.

Wynn Resorts (NASDAQ:WYNN – Get Free Report) last released its earnings results on Tuesday, May 9th. The casino operator reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.47. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned ($1.21) earnings per share. The firm’s revenue for the quarter was up 49.3% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 1.95 EPS for the current year.

Wynn Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd were issued a dividend of $0.25 per share. The ex-dividend date was Monday, May 22nd. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. Wynn Resorts’s dividend payout ratio (DPR) is presently -46.73%.

Wynn Resorts Profile

(Free Report)

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.