AIA Group Ltd Takes $4.67 Million Position in Wynn Resorts, Limited $WYNN

Key Points

• AIA Group Ltd established a new position in Wynn Resorts in Q3, buying 36,384 shares worth about $4.67 million, and institutional investors now own roughly 88.64% of the stock.
• Wynn reported Q EPS of $1.17, missing estimates by $0.16 while revenue of $1.87 billion slightly beat expectations; the company pays a quarterly dividend of $0.25 (1.0% yield).
• Analysts hold a consensus Moderate Buy with a price target near $138.87; the stock recently traded around $103.16, below its 200-day moving average of $119.06.

AIA Group Ltd purchased a new position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 36,384 shares of the casino operator's stock, valued at approximately $4,667,000.

A number of other hedge funds also recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts in the 2nd quarter worth $25,000. Root Financial Partners LLC purchased a new position in Wynn Resorts during the third quarter valued at $26,000. Manchester Capital Management LLC grew its position in shares of Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock valued at $30,000 after purchasing an additional 300 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Wynn Resorts during the third quarter worth about $31,000. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in shares of Wynn Resorts by 400.0% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $103.16 on Friday. The stock's fifty day moving average is $110.09 and its two-hundred day moving average is $119.06. The firm has a market capitalization of $10.76 billion, a P/E ratio of 34.39, a price-to-earnings-growth ratio of 11.51 and a beta of 1.01. Wynn Resorts, Limited has a fifty-two week low of $65.25 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the business earned $2.42 earnings per share. The firm's revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts's dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

WYNN has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on Wynn Resorts from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Macquarie Infrastructure restated an "outperform" rating and issued a $143.00 target price on shares of Wynn Resorts in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $144.00 price target on Wynn Resorts in a research note on Friday, February 13th. Susquehanna reiterated a "positive" rating and set a $133.00 price target on shares of Wynn Resorts in a research report on Thursday, February 12th. Finally, Mizuho raised their price objective on Wynn Resorts from $131.00 to $134.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.87.

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.

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