Nomura Asset Management Co. Ltd. cut its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,545 shares of the casino operator’s stock after selling 329 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $2,175,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Wynn Resorts in the second quarter valued at approximately $35,000. Manchester Financial Inc. acquired a new stake in shares of Wynn Resorts in the second quarter valued at approximately $36,000. Zions Bancorporation N.A. acquired a new stake in shares of Wynn Resorts in the first quarter valued at approximately $41,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Wynn Resorts in the first quarter valued at approximately $48,000. Finally, FinTrust Capital Advisors LLC raised its position in shares of Wynn Resorts by 10,900.0% in the first quarter. FinTrust Capital Advisors LLC now owns 440 shares of the casino operator’s stock valued at $53,000 after buying an additional 436 shares in the last quarter. Institutional investors own 75.76% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Citigroup set a $141.00 price target on shares of Wynn Resorts and gave the company a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price target on shares of Wynn Resorts from $137.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Nomura dropped their price target on shares of Wynn Resorts from $142.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. ValuEngine downgraded shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Barclays dropped their price target on shares of Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Wynn Resorts has a consensus rating of “Buy” and an average target price of $136.25.
NASDAQ:WYNN traded down $1.70 during mid-day trading on Thursday, reaching $111.20. The stock had a trading volume of 682,029 shares, compared to its average volume of 2,184,718. The stock has a 50-day simple moving average of $111.93 and a two-hundred day simple moving average of $123.76. The stock has a market capitalization of $12.55 billion, a PE ratio of 17.00, a P/E/G ratio of 1.99 and a beta of 2.05. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. Wynn Resorts, Limited has a 12 month low of $90.06 and a 12 month high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.44. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. Equities analysts expect that Wynn Resorts, Limited will post 5.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Friday, August 16th were paid a $1.00 dividend. The ex-dividend date was Thursday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 3.60%. Wynn Resorts’s dividend payout ratio (DPR) is 61.16%.
About Wynn Resorts
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.
Featured Story: How to Trade Using Analysts Ratings
Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.