Wynn Resorts, Limited (NASDAQ:WYNN) Position Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,713 shares of the casino operator’s stock after buying an additional 655 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wynn Resorts were worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WYNN. Principal Financial Group Inc. lifted its stake in Wynn Resorts by 1.9% during the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after buying an additional 2,001 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock worth $18,098,000 after purchasing an additional 7,850 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Wynn Resorts by 7.7% in the third quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator’s stock worth $1,366,000 after purchasing an additional 1,017 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after purchasing an additional 3,850 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position in shares of Wynn Resorts by 4.1% in the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after purchasing an additional 181 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WYNN shares. Stifel Nicolaus increased their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Finally, Morgan Stanley cut their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Two investment 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Up 3.5 %

Shares of WYNN stock opened at $86.18 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The business’s 50 day moving average is $85.47 and its two-hundred day moving average is $88.63. The company has a market cap of $9.17 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is 23.75%.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Profile

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.