Wynn Resorts, Limited $WYNN Stock Bought by Retirement Systems of Alabama

Retirement Systems of Alabama increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2,056.8% during the third quarter, HoldingsChannel.com reports. The fund owned 379,982 shares of the casino operator’s stock after acquiring an additional 362,364 shares during the period. Retirement Systems of Alabama’s holdings in Wynn Resorts were worth $30,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Wynn Resorts in the 2nd quarter worth approximately $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Wynn Resorts in the 2nd quarter valued at $321,402,000. State Street Corp boosted its holdings in Wynn Resorts by 2.6% in the 2nd quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock valued at $295,924,000 after purchasing an additional 77,416 shares during the period. Renaissance Technologies LLC grew its position in shares of Wynn Resorts by 17.4% during the 1st quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock valued at $125,918,000 after purchasing an additional 184,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at $99,277,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WYNN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a report on Monday, September 21st. Morgan Stanley lowered their price objective on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Mizuho dropped their price objective on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Wolfe Research initiated coverage on Wynn Resorts in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $128.00 target price on the stock. Finally, Barclays lowered their price target on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $87.30 on Wednesday. Wynn Resorts, Limited has a 1 year low of $70.79 and a 1 year high of $134.72. The firm has a market cap of $8.95 billion, a PE ratio of 26.06, a PEG ratio of 1.10 and a beta of 0.96. The company has a 50 day simple moving average of $80.43 and a two-hundred day simple moving average of $97.41.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, November 5th. The casino operator reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.75 billion. Wynn Resorts had a negative return on equity of 42.73% and a net margin of 5.20%. Wynn Resorts’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 4.08 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 16th. Wynn Resorts’s payout ratio is currently 29.85%.

Key Stories Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: CBRE says Wynn Al Marjan Island in the UAE could significantly improve Wynn’s finances when it opens and potentially support a credit-rating upgrade. Read More..
• Positive Sentiment: Wynn Las Vegas reported 3% growth in RevPAR and average daily rate, while Wynn Palace added 432 suites through its Enclave project—signs of resilience and expanded capacity. Read More..
• Neutral Sentiment: Wynn is reportedly considering plans for its vacant 38-acre site across from Encore Las Vegas. The property could offer development potential, but the report does not describe a finalized project or financial impact. Read More..
• Neutral Sentiment: Several analysts lowered price targets, including Citigroup ($100 from $103), JPMorgan ($112 from $115), and Macquarie ($128 from $132); Citigroup retained a Buy rating and JPMorgan remained Overweight. These targets still imply upside from the cited share price, but the reductions temper expectations. Read More. · Read More. · Read More..
• Negative Sentiment: Third-quarter results missed expectations: Wynn reported $0.33 in EPS versus $0.52 expected and $1.69 billion in revenue versus $1.75 billion expected. Revenue fell 7.9% year over year, and EPS was down from $0.86 a year earlier. Read More..
• Negative Sentiment: A Las Vegas union plans a rally alleging unfair labor practices at Wynn, which could add reputational or labor-relations pressure. Read More..
• Negative Sentiment: Wall Street Zen cut its rating on Wynn to Sell, adding to the cautious analyst signals. Read More..

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities. The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China. Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.