State of New Jersey Common Pension Fund D Sells 20,853 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

State of New Jersey Common Pension Fund D cut its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 36.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,117 shares of the casino operator’s stock after selling 20,853 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Wynn Resorts were worth $3,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Wynn Resorts in the 2nd quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new position in Wynn Resorts in the 4th quarter worth approximately $27,000. Register Financial Advisors LLC bought a new position in Wynn Resorts in the 1st quarter worth approximately $37,000. Neo Ivy Capital Management bought a new position in Wynn Resorts in the 4th quarter valued at $40,000. Finally, Versant Capital Management Inc bought a new position in Wynn Resorts in the 2nd quarter valued at $51,000. 68.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on WYNN. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Jefferies Financial Group cut their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.73.

Insider Buying and Selling

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

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $80.00 on Wednesday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The company’s 50-day moving average is $78.74 and its 200 day moving average is $90.17. The stock has a market capitalization of $8.97 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.93 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. Wynn Resorts’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate that Wynn Resorts, Limited will post 5.55 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is currently 13.70%.

Wynn Resorts Profile

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.