Resona Asset Management Co. Ltd. Has $93,000 Position in Wynn Resorts, Limited $WYNN

Resona Asset Management Co. Ltd. trimmed its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 96.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 980 shares of the casino operator’s stock after selling 27,876 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $93,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WYNN. Dagco Inc. bought a new stake in shares of Wynn Resorts during the first quarter worth $25,000. AlphaQuest LLC bought a new position in shares of Wynn Resorts in the 1st quarter valued at $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Wynn Resorts during the 2nd quarter worth $43,000. Finally, First Horizon Advisors Inc. grew its position in Wynn Resorts by 30.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 640 shares of the casino operator’s stock worth $60,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at approximately $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on WYNN shares. The Goldman Sachs Group lifted their price target on Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, November 5th. Mizuho raised their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. Finally, Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.58.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $125.02 on Thursday. The stock’s 50-day moving average is $123.57 and its 200 day moving average is $108.43. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $134.23. The firm has a market cap of $13.00 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. On average, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio is currently 22.37%.

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.