Nomura Asset Management Co. Ltd. increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,249 shares of the casino operator’s stock after buying an additional 768 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $2,599,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Silvant Capital Management LLC bought a new position in Wynn Resorts in the 1st quarter worth approximately $104,000. Synovus Financial Corp bought a new position in Wynn Resorts in the 1st quarter worth approximately $147,000. Mckinley Capital Management LLC Delaware bought a new position in Wynn Resorts in the 4th quarter worth approximately $171,000. Smithfield Trust Co. grew its holdings in Wynn Resorts by 1,818.2% in the 1st quarter. Smithfield Trust Co. now owns 1,055 shares of the casino operator’s stock worth $193,000 after buying an additional 1,000 shares in the last quarter. Finally, IBM Retirement Fund bought a new position in Wynn Resorts in the 4th quarter worth approximately $201,000. 76.48% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on WYNN shares. BidaskClub lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research note on Thursday, February 15th. Morgan Stanley set a $193.00 price target on Wynn Resorts and gave the company a “hold” rating in a research note on Wednesday, February 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $200.00 price target on shares of Wynn Resorts in a research note on Thursday, March 8th. Finally, Susquehanna Bancshares increased their price target on Wynn Resorts from $211.00 to $214.00 and gave the company a “positive” rating in a research note on Thursday, March 8th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $199.00.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, April 24th. The casino operator reported $2.30 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.32. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a return on equity of 101.01% and a net margin of 6.75%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted $1.24 EPS. equities research analysts forecast that Wynn Resorts, Limited will post 8.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 29th. Stockholders of record on Thursday, May 17th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, May 16th. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a dividend yield of 1.67%. Wynn Resorts’s dividend payout ratio (DPR) is currently 54.95%.
In other news, Director Robert Jos Miller sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $191.73, for a total transaction of $1,917,300.00. Following the completion of the sale, the director now directly owns 19,162 shares of the company’s stock, valued at approximately $3,673,930.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Stephen A. Wynn sold 4,104,999 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $180.00, for a total value of $738,899,820.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,133,449 shares of company stock valued at $744,342,731. Corporate insiders own 0.95% of the company’s stock.
Wynn Resorts Profile
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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