Asset Management One Co. Ltd. Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Asset Management One Co. Ltd. lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,324 shares of the casino operator's stock after acquiring an additional 4,015 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Wynn Resorts were worth $3,367,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BOKF NA increased its holdings in Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator's stock worth $289,000 after purchasing an additional 132 shares during the last quarter. Snowden Capital Advisors LLC increased its stake in shares of Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock worth $223,000 after buying an additional 138 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Wynn Resorts by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock valued at $2,681,000 after acquiring an additional 142 shares in the last quarter. Grassi Investment Management boosted its stake in Wynn Resorts by 4.2% during the 1st quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock valued at $308,000 after acquiring an additional 150 shares during the last quarter. Finally, Metis Global Partners LLC boosted its stake in Wynn Resorts by 5.0% during the 4th quarter. Metis Global Partners LLC now owns 3,197 shares of the casino operator's stock valued at $275,000 after acquiring an additional 152 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director now owns 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta acquired 300,000 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $70.37 per share, with a total value of $21,111,000.00. Following the acquisition, the insider now owns 12,900,000 shares of the company's stock, valued at approximately $907,773,000. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Trading Up 2.2%

NASDAQ WYNN opened at $94.68 on Monday. The company has a 50-day moving average price of $87.70 and a two-hundred day moving average price of $85.15. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The stock has a market cap of $9.90 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 2.67 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business's quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.59 earnings per share. As a group, equities research analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

WYNN has been the subject of several research analyst reports. Citigroup raised shares of Wynn Resorts from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research note on Wednesday, May 7th. Wall Street Zen downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Mizuho lowered their price target on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $112.82.

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.

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