Corebridge Financial Inc. Has $1.84 Million Holdings in Wynn Resorts, Limited $WYNN

Corebridge Financial Inc. lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,992 shares of the casino operator’s stock after selling 1,608 shares during the quarter. Corebridge Financial Inc.’s holdings in Wynn Resorts were worth $1,836,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. BOKF NA raised its stake in Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after buying an additional 132 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after buying an additional 132 shares during the period. Snowden Capital Advisors LLC raised its stake in Wynn Resorts by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock worth $223,000 after buying an additional 138 shares during the period. Navalign LLC raised its stake in Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock worth $689,000 after buying an additional 144 shares during the period. Finally, Grassi Investment Management raised its stake in Wynn Resorts by 4.2% during the 1st quarter. Grassi Investment Management now owns 3,690 shares of the casino operator’s stock worth $308,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup reaffirmed a “neutral” rating and set a $114.00 price objective (up previously from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Stifel Nicolaus lifted their price target on Wynn Resorts from $113.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 8th. UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price target for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a research note on Monday, August 11th. Finally, The Goldman Sachs Group began coverage on Wynn Resorts in a research note on Monday, July 7th. They issued a “buy” rating and a $122.00 price target on the stock. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.93.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $125.47 on Wednesday. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 37.68, a PEG ratio of 6.76 and a beta of 1.37. The business has a 50-day moving average of $109.82 and a 200-day moving average of $93.65. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $128.53.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is presently 30.03%.

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.