Resona Asset Management Co. Ltd. purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,941 shares of the casino operator's stock, valued at approximately $2,418,000.
Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors raised its position in Wynn Resorts by 41.2% in the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator's stock valued at $399,000 after buying an additional 1,215 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock valued at $11,094,000 after purchasing an additional 54,995 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Wynn Resorts during the 3rd quarter worth about $290,000. MML Investors Services LLC boosted its stake in shares of Wynn Resorts by 135.7% during the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator's stock worth $1,630,000 after buying an additional 9,788 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Wynn Resorts by 15.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,977 shares of the casino operator's stock valued at $2,970,000 after acquiring an additional 4,212 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.
Insider Buying and Selling at Wynn Resorts
In other news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the transaction, the insider now directly owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. This trade represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Philip G. Satre bought 22,200 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 438,700 shares of company stock worth $31,300,943. Insiders own 0.52% of the company's stock.
Wall Street Analysts Forecast Growth
WYNN has been the subject of several recent research reports. Mizuho increased their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and boosted their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Macquarie reiterated an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $119.58.
Get Our Latest Stock Analysis on WYNN
Wynn Resorts Stock Performance
Shares of NASDAQ:WYNN traded up $0.67 during midday trading on Monday, reaching $73.86. The company's stock had a trading volume of 1,504,644 shares, compared to its average volume of 2,456,497. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The firm has a 50 day moving average price of $83.27 and a two-hundred day moving average price of $88.66. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.35 and a beta of 1.53.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.
Wynn Resorts Dividend Announcement
The firm also recently declared 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 was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.35%. Wynn Resorts's payout ratio is 23.75%.
About Wynn Resorts
(
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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