Texas Permanent School Fund Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Texas Permanent School Fund lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,868 shares of the casino operator’s stock after acquiring an additional 216 shares during the quarter. Texas Permanent School Fund’s holdings in Wynn Resorts were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. IPG Investment Advisors LLC increased its stake in shares of Wynn Resorts by 44.6% in the second quarter. IPG Investment Advisors LLC now owns 6,714 shares of the casino operator’s stock worth $383,000 after acquiring an additional 2,070 shares during the period. State of Michigan Retirement System increased its stake in shares of Wynn Resorts by 6.4% in the second quarter. State of Michigan Retirement System now owns 28,272 shares of the casino operator’s stock worth $1,611,000 after acquiring an additional 1,700 shares during the period. ING Groep NV acquired a new stake in shares of Wynn Resorts in the second quarter worth $1,132,000. M&T Bank Corp increased its stake in shares of Wynn Resorts by 12.7% in the second quarter. M&T Bank Corp now owns 3,888 shares of the casino operator’s stock worth $214,000 after acquiring an additional 437 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Wynn Resorts in the second quarter worth $2,632,000. Institutional investors and hedge funds own 64.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WYNN shares. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Monday, September 26th. Barclays lifted their price objective on shares of Wynn Resorts to $75.00 in a report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $92.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. StockNews.com started coverage on shares of Wynn Resorts in a report on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, Citigroup lifted their price objective on shares of Wynn Resorts from $87.50 to $91.00 and gave the company a “buy” rating in a report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.69.

Wynn Resorts Price Performance

WYNN opened at $76.00 on Monday. The company’s 50 day simple moving average is $65.35 and its two-hundred day simple moving average is $62.89. Wynn Resorts, Limited has a 1-year low of $50.20 and a 1-year high of $96.50. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of -13.72 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNNGet Rating) last released its earnings results on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.20). The business had revenue of $889.70 million during the quarter, compared to analysts’ expectations of $867.42 million. During the same period last year, the business earned ($1.24) earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts, Limited will post -4.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,000 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $66.14, for a total transaction of $132,280.00. Following the sale, the director now owns 6,781 shares of the company’s stock, valued at approximately $448,495.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Wynn Resorts Profile

(Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

Further Reading

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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