Wynn Resorts, Limited (NASDAQ:WYNN) Position Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,551 shares of the casino operator’s stock after selling 310 shares during the period. State of Alaska Department of Revenue’s holdings in Wynn Resorts were worth $909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WYNN. New Wave Wealth Advisors LLC purchased a new position in Wynn Resorts during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts during the 3rd quarter valued at $31,000. Spire Wealth Management grew its holdings in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after acquiring an additional 234 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 467 shares in the last quarter. Finally, Allworth Financial LP grew its holdings 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 in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $80.61 on Friday. The firm has a fifty day moving average price of $85.77 and a two-hundred day moving average price of $86.78. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.32 and a beta of 1.76. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WYNN. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group lowered their price target on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

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.