Mitsubishi UFJ Asset Management Co. Ltd. Has $14 Million Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Wynn Resorts by 10.9%, owning 167,695 shares valued at approximately $14 million.
• Wynn Resorts reported a Q2 EPS of $1.09, missing the consensus estimate, but had revenue of $1.74 billion, aligning with analysts' expectations.
• The company announced a quarterly $0.25 dividend to be paid on August 29th, representing a 0.9% yield for shareholders.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,695 shares of the casino operator's stock after purchasing an additional 16,425 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Wynn Resorts worth $14,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Tennessee Department of Treasury lifted its holdings in shares of Wynn Resorts by 73.0% during the fourth quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after purchasing an additional 10,041 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Wynn Resorts by 190.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after purchasing an additional 12,993 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at $2,296,000. Boothbay Fund Management LLC lifted its stake in Wynn Resorts by 67.2% during the fourth quarter. Boothbay Fund Management LLC now owns 27,973 shares of the casino operator's stock valued at $2,410,000 after buying an additional 11,238 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in Wynn Resorts by 15.0% during the fourth quarter. Gabelli Funds LLC now owns 60,400 shares of the casino operator's stock valued at $5,204,000 after buying an additional 7,900 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded down $0.67 during mid-day trading on Wednesday, reaching $111.82. The company had a trading volume of 1,539,021 shares, compared to its average volume of 1,839,685. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $112.57. The stock's 50 day moving average is $101.24 and its 200-day moving average is $90.23. The stock has a market capitalization of $11.63 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 5.98 and a beta of 1.41.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio is 30.03%.

Wall Street Analyst Weigh In

A number of analysts have commented on WYNN shares. Macquarie upped their price objective on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $113.00 to $130.00 and gave the company a "buy" rating in a report on Friday, August 8th. Morgan Stanley boosted their target price on shares of Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday. UBS Group reissued a "neutral" rating and set a $101.00 target price (up from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. Finally, Citigroup reissued a "neutral" rating and set a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $118.64.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director owned 3,066 shares in the company, valued at $282,439.92. This represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

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.