Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,646 shares of the casino operator's stock after selling 7,107 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.17% of Wynn Resorts worth $15,651,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. IHT Wealth Management LLC raised its holdings 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 valued at $654,000 after purchasing an additional 112 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock valued at $188,000 after purchasing an additional 119 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after purchasing an additional 133 shares during the last quarter. Prospera Financial Services Inc grew its position in Wynn Resorts by 4.1% during the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator's stock valued at $443,000 after buying an additional 181 shares during the period. Finally, Wedmont Private Capital grew its position in Wynn Resorts by 7.5% during the fourth quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator's stock valued at $214,000 after buying an additional 183 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.
Wynn Resorts Trading Up 10.4 %
Shares of NASDAQ:WYNN traded up $8.35 during midday trading on Friday, reaching $88.82. 9,028,540 shares of the company were exchanged, compared to its average volume of 2,352,991. The business's fifty day moving average is $85.66 and its two-hundred day moving average is $86.89. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The stock has a market cap of $9.75 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76.
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 net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 4.69 EPS for the current year.
Wynn Resorts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. Wynn Resorts's dividend payout ratio is 12.33%.
Wall Street Analysts Forecast Growth
WYNN has been the subject of several recent research reports. Barclays boosted their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research report on Friday. Finally, Macquarie restated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a research report on Friday. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $119.50.
Check Out Our Latest Research Report on WYNN
Wynn Resorts Profile
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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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