Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 17.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,270 shares of the casino operator's stock after buying an additional 22,425 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.14% of Wynn Resorts worth $12,604,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. IHT Wealth Management LLC increased its stake in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator's stock worth $654,000 after buying an additional 112 shares during the period. Fifth Third Bancorp grew its holdings in Wynn Resorts by 5.8% during the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock worth $188,000 after acquiring an additional 119 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after purchasing an additional 122 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Wynn Resorts by 5.0% in the 4th quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator's stock valued at $275,000 after purchasing an additional 152 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Wynn Resorts by 1.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator's stock worth $844,000 after purchasing an additional 176 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.
Wynn Resorts Stock Down 1.4 %
Shares of Wynn Resorts stock traded down $1.19 during trading on Wednesday, reaching $81.54. The company's stock had a trading volume of 2,526,586 shares, compared to its average volume of 2,353,639. The company has a market capitalization of $8.66 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The business has a 50 day moving average price of $85.79 and a 200-day moving average price of $89.34.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Research analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.
Wynn Resorts Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Wynn Resorts's dividend payout ratio is presently 23.75%.
Insiders Place Their Bets
In other news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of the company's stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the purchase, the insider now directly owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 38,700 shares of company stock worth $3,427,943. Insiders own 0.52% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on WYNN. Mizuho upped their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Barclays raised their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Stifel Nicolaus boosted their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $119.58.
Read Our Latest Stock Report on WYNN
Wynn Resorts Company Profile
(
Free Report)
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.
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