Louisiana State Employees Retirement System Invests $528,000 in Wynn Resorts, Limited (NASDAQ:WYNN)

Louisiana State Employees Retirement System acquired a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,800 shares of the casino operator’s stock, valued at approximately $528,000.

Several other hedge funds have also made changes to their positions in the stock. Blue Trust Inc. raised its holdings in Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Wynn Resorts by 1,083.8% in the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after purchasing an additional 401 shares during the period. Friedenthal Financial acquired a new stake in Wynn Resorts during the fourth quarter worth $46,000. Finally, CX Institutional bought a new stake in Wynn Resorts in the 4th quarter valued at $166,000. Institutional investors own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WYNN. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective on the stock. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Macquarie raised their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, Barclays upped their price target on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.43.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the sale, the director now owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Insiders sold 26,578 shares of company stock worth $2,850,282 in the last quarter. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $96.98 on Tuesday. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86. The stock has a market capitalization of $10.87 billion, a PE ratio of 16.22 and a beta of 1.93. The stock’s fifty day moving average is $101.32 and its 200-day moving average is $95.12.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm earned ($1.23) EPS. The company’s revenue was up 83.1% on a year-over-year basis. As a group, analysts forecast that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio is currently 16.72%.

About Wynn Resorts

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.