Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,019 shares of the casino operator’s stock after purchasing an additional 802 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $1,553,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc boosted its stake in shares of Wynn Resorts by 4.6% in the third quarter. Vanguard Group Inc now owns 9,850,529 shares of the casino operator’s stock worth $1,251,608,000 after acquiring an additional 431,304 shares during the last quarter. BlackRock Inc. lifted its position in Wynn Resorts by 0.4% during the fourth quarter. BlackRock Inc. now owns 6,187,633 shares of the casino operator’s stock worth $612,019,000 after buying an additional 22,975 shares in the last quarter. Geode Capital Management LLC lifted its position in Wynn Resorts by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 1,286,319 shares of the casino operator’s stock worth $127,010,000 after buying an additional 91,738 shares in the last quarter. Northern Trust Corp lifted its position in Wynn Resorts by 1.2% during the fourth quarter. Northern Trust Corp now owns 1,074,036 shares of the casino operator’s stock worth $106,233,000 after buying an additional 13,233 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Wynn Resorts by 24.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,029,585 shares of the casino operator’s stock worth $101,837,000 after buying an additional 205,157 shares in the last quarter. Hedge funds and other institutional investors own 77.22% of the company’s stock.
WYNN has been the topic of a number of research analyst reports. BidaskClub downgraded Wynn Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Thursday, April 4th. Bank of America restated a “neutral” rating and issued a $150.00 target price (up previously from $145.00) on shares of Wynn Resorts in a research report on Wednesday, April 17th. Morgan Stanley lifted their target price on Wynn Resorts from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Finally, Deutsche Bank boosted their price objective on Wynn Resorts from $145.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $152.00.
WYNN traded up $0.28 on Wednesday, hitting $114.39. 876,381 shares of the company were exchanged, compared to its average volume of 2,195,572. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.83 and a beta of 1.76. Wynn Resorts, Limited has a twelve month low of $90.06 and a twelve month high of $197.68. The company has a debt-to-equity ratio of 4.84, a current ratio of 1.19 and a quick ratio of 1.16.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 9th. The casino operator reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.02. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Wynn Resorts had a return on equity of 35.83% and a net margin of 13.43%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.30 EPS. On average, research analysts anticipate that Wynn Resorts, Limited will post 6.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $1.00 per share. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Tuesday, May 21st. Wynn Resorts’s dividend payout ratio is currently 61.16%.
In other news, Director Patricia Mulroy sold 425 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $118.02, for a total transaction of $50,158.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.
Wynn Resorts Profile
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.
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