Daiwa Securities Group Inc. Boosts Position in Wynn Resorts, Limited (NASDAQ:WYNN)
Daiwa Securities Group Inc. increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,025 shares of the casino operator’s stock after acquiring an additional 161 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wynn Resorts were worth $546,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Wynn Resorts by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 9,853,472 shares of the casino operator’s stock valued at $1,221,733,000 after purchasing an additional 91,299 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Wynn Resorts by 9.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock valued at $1,098,205,000 after buying an additional 801,270 shares in the last quarter. Egerton Capital UK LLP boosted its holdings in shares of Wynn Resorts by 51.4% in the 2nd quarter. Egerton Capital UK LLP now owns 3,487,638 shares of the casino operator’s stock valued at $432,432,000 after buying an additional 1,184,251 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Wynn Resorts by 1.7% in the 2nd quarter. Northern Trust Corp now owns 1,096,761 shares of the casino operator’s stock valued at $135,987,000 after buying an additional 18,478 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Wynn Resorts by 6.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 641,890 shares of the casino operator’s stock valued at $79,588,000 after buying an additional 36,260 shares in the last quarter. 75.76% of the stock is currently owned by institutional investors.
WYNN has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a report on Saturday, October 12th. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $136.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group lowered their price target on shares of Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $139.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Deutsche Bank set a $150.00 price target on shares of Wynn Resorts and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Wynn Resorts presently has an average rating of “Buy” and an average price target of $137.59.
Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. On average, equities research analysts expect that Wynn Resorts, Limited will post 4.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio (DPR) is presently 61.16%.
In related news, CEO Matt Maddox sold 25,000 shares of Wynn Resorts stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $122.47, for a total value of $3,061,750.00. Following the completion of the sale, the chief executive officer now directly owns 407,107 shares in the company, valued at approximately $49,858,394.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 75,000 shares of company stock valued at $8,750,250 over the last quarter. 0.58% of the stock is owned by company insiders.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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