Kentucky Retirement Systems Sells 601 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Kentucky Retirement Systems decreased its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 8.4% in the third quarter, HoldingsChannel reports. The fund owned 6,515 shares of the casino operator’s stock after selling 601 shares during the quarter. Kentucky Retirement Systems’ holdings in Wynn Resorts were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. EntryPoint Capital LLC grew its position in shares of Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after acquiring an additional 117 shares during the period. Fifth Third Bancorp grew its position in shares of Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after acquiring an additional 120 shares during the period. Allworth Financial LP grew its position in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after acquiring an additional 149 shares during the period. Finally, Garde Capital Inc. grew its position in shares of Wynn Resorts by 10.1% during the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after acquiring an additional 160 shares during the period. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Up 0.9 %

Shares of Wynn Resorts stock opened at $91.25 on Wednesday. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 3.26 and a beta of 1.80. The business has a 50-day moving average price of $92.71 and a 200-day moving average price of $88.13. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $0.99 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

Analyst Ratings Changes

Several research analysts recently weighed in on WYNN shares. Stifel Nicolaus dropped their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Susquehanna upped their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by insiders.

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.