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

Nomura Asset Management Co. Ltd. raised its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,119 shares of the casino operator’s stock after acquiring an additional 142 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $2,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Wave Wealth Advisors LLC purchased a new stake in Wynn Resorts during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management raised its holdings in Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Wynn Resorts by 15.0% in the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after acquiring an additional 122 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on WYNN. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Macquarie reissued an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. Barclays raised their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now directly owns 12,600,000 shares in the company, valued at $1,070,118,000. This trade represents a 0.09 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 38,700 shares of company stock worth $3,427,943. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Stock Down 1.4 %

Shares of WYNN opened at $81.54 on Thursday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.35 and a beta of 1.53. The business has a 50-day simple moving average of $85.79 and a two-hundred day simple moving average of $89.34.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Wynn Resorts Company 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.