Nomura Asset Management Co. Ltd. Increases Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Nomura Asset Management Co. Ltd. raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 15.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,977 shares of the casino operator’s stock after acquiring an additional 4,212 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WYNN. International Assets Investment Management LLC purchased a new position in Wynn Resorts during the second quarter valued at $25,000. Blue Trust Inc. lifted its position in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares in the last quarter. Allworth Financial LP grew its stake in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Wynn Resorts by 703.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after acquiring an additional 900 shares in the last quarter. Finally, Covestor Ltd raised its stake in Wynn Resorts by 207.4% during the 3rd quarter. Covestor Ltd now owns 1,408 shares of the casino operator’s stock worth $135,000 after acquiring an additional 950 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.71.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by insiders.

Wynn Resorts Stock Performance

WYNN stock opened at $94.53 on Friday. The firm has a 50-day simple moving average of $94.99 and a two-hundred day simple moving average of $87.84. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

About Wynn Resorts

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.