Daiwa Securities Group Inc. Boosts Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Daiwa Securities Group Inc. raised its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,918 shares of the casino operator’s stock after purchasing an additional 484 shares during the period. Daiwa Securities Group Inc.’s holdings in Wynn Resorts were worth $813,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its holdings in shares of Wynn Resorts by 17.7% during the third quarter. AE Wealth Management LLC now owns 4,025 shares of the casino operator’s stock worth $372,000 after buying an additional 606 shares in the last quarter. Czech National Bank grew its holdings in shares of Wynn Resorts by 38.1% during the third quarter. Czech National Bank now owns 16,927 shares of the casino operator’s stock worth $1,564,000 after buying an additional 4,669 shares in the last quarter. Alta Wealth Advisors LLC grew its holdings in shares of Wynn Resorts by 52.9% during the third quarter. Alta Wealth Advisors LLC now owns 6,620 shares of the casino operator’s stock worth $612,000 after buying an additional 2,289 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its holdings in Wynn Resorts by 1.2% in the third quarter. Townsend Asset Management Corp NC ADV now owns 40,814 shares of the casino operator’s stock valued at $3,772,000 after purchasing an additional 481 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Wynn Resorts by 25.2% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,229 shares of the casino operator’s stock valued at $3,440,000 after purchasing an additional 7,500 shares during the period. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Patricia Mulroy sold 960 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now owns 522 shares in the company, valued at $54,898.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock worth $2,850,282 in the last 90 days. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 0.5 %

WYNN stock opened at $96.60 on Friday. Wynn Resorts, Limited has a one year low of $81.65 and a one year high of $117.86. The firm has a market capitalization of $10.83 billion, a PE ratio of 16.15 and a beta of 1.93. The firm has a 50-day moving average of $101.66 and a two-hundred day moving average of $95.06.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business’s quarterly revenue was up 83.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.23) earnings per share. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Wynn Resorts’s dividend payout ratio is 16.72%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Susquehanna boosted their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Barclays boosted their target price on shares of Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Mizuho assumed coverage on shares of Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $121.43.

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.