Wynn Resorts, Limited $WYNN Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in Wynn Resorts, buying 19,573 shares worth about $1.56 million. Institutional investors collectively own 88.64% of the company’s stock.
• Wynn’s third-quarter results missed expectations: revenue fell 7.9% year over year to $1.69 billion, while EPS was $0.33 versus the $0.52 consensus estimate. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results.
• The company’s Al Marjan Island resort in the UAE remains on track to open in September 2027, but it still requires substantial equity funding and faces execution risks. Wynn also declared a quarterly dividend of $0.25 per share.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,573 shares of the casino operator's stock, valued at approximately $1,555,000.

Several other hedge funds also recently modified their holdings of WYNN. State Street Corp grew its holdings in Wynn Resorts by 2.6% during the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator's stock valued at $295,924,000 after purchasing an additional 77,416 shares during the period. BlackRock Inc. bought a new stake in shares of Wynn Resorts in the second quarter worth about $609,566,000. Penn Capital Management Company LLC bought a new stake in shares of Wynn Resorts in the second quarter worth about $1,752,000. Biglari Capital CORP. acquired a new stake in shares of Wynn Resorts during the second quarter worth about $13,961,639. Finally, Bank of America Corp DE acquired a new stake in shares of Wynn Resorts during the second quarter worth about $74,504,000. Institutional investors own 88.64% of the company's stock.

Key Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

Wynn Resorts Stock Performance

Shares of WYNN opened at $83.11 on Friday. The firm has a market cap of $8.56 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96. The firm's 50-day simple moving average is $80.68 and its 200 day simple moving average is $97.68. Wynn Resorts, Limited has a 52 week low of $70.79 and a 52 week high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The casino operator reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.19). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a net margin of 5.20% and a negative return on equity of 43.01%. The firm's revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, equities analysts forecast that Wynn Resorts, Limited will post 4.24 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 16th. Wynn Resorts's dividend payout ratio (DPR) is presently 29.85%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating and set a $93.00 price objective on shares of Wynn Resorts in a report on Friday. Zacks Research upgraded shares of Wynn Resorts from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Barclays cut their price target on shares of Wynn Resorts from $128.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday. Mizuho reduced their price target on shares of Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Wynn Resorts from $134.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.24.

Wynn Resorts Company Profile

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.

The company's portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.

Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.

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