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

Nomura Asset Management Co. Ltd. boosted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 15.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 30,977 shares of the casino operator’s stock after acquiring an additional 4,212 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $2,970,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WYNN. Fisher Asset Management LLC raised its stake in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the last quarter. Holocene Advisors LP lifted its holdings in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after acquiring an additional 755,236 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Wynn Resorts during the 3rd quarter worth $58,486,000. Renaissance Technologies LLC boosted its stake in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Wynn Resorts in the 3rd quarter valued at approximately $19,753,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $94.53 on Friday. The business has a fifty day moving average of $94.99 and a two-hundred day moving average of $87.84. The company has a market cap of $10.38 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data 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 firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. Sell-side analysts predict that Wynn Resorts, Limited will post 4.79 EPS for the current year.

Wynn Resorts Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Susquehanna increased their price target 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. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $115.71.

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.