Mitsubishi UFJ Asset Management Co. Ltd. Buys New Position in Wynn Resorts, Limited $WYNN

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the 2nd quarter, Holdings Channel reports. The fund acquired 107,771 shares of the casino operator’s stock, valued at approximately $10,463,000.

A number of other institutional investors also recently bought and sold shares of WYNN. Sequoia Financial Advisors LLC raised its position in Wynn Resorts by 46.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock valued at $92,676,000 after purchasing an additional 243,179 shares during the period. Pacer Advisors Inc. lifted its stake in Wynn Resorts by 97.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock worth $2,697,000 after purchasing an additional 11,067 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Wynn Resorts by 579.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 20,689 shares of the casino operator’s stock worth $2,530,000 after buying an additional 17,642 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Wynn Resorts in the second quarter valued at $1,053,000. Finally, Amundi grew its stake in shares of Wynn Resorts by 161.6% in the first quarter. Amundi now owns 65,492 shares of the casino operator’s stock valued at $6,651,000 after buying an additional 40,454 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on WYNN shares. JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Citigroup reissued a “buy” rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Argus upped their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.19.

Wynn Resorts Trading Down 0.5%

WYNN stock opened at $99.60 on Friday. Wynn Resorts, Limited has a twelve month low of $92.52 and a twelve month high of $134.72. The company’s 50 day moving average is $99.92 and its two-hundred day moving average is $103.01. The stock has a market cap of $10.26 billion, a P/E ratio of 24.71, a PEG ratio of 0.88 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. Wynn Resorts’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities research analysts predict that Wynn Resorts, Limited will post 4.63 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 24.81%.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.