Nomura Holdings Inc. Cuts Stake in Wynn Resorts, Limited $WYNN

Key Points

• Nomura Holdings Inc. has drastically reduced its stake in Wynn Resorts by 97.7%, now owning just 15,416 shares worth approximately $1.29 million after selling over 655,000 shares in the first quarter.
• Several institutional investors increased their holdings in Wynn Resorts, with Cetera Investment Advisers increasing its position by 63.2% during the fourth quarter.
• The company reported earnings of $1.09 per share in its last quarterly results, missing analysts' estimates and reflecting a year-over-year revenue increase of just 0.6%.

Nomura Holdings Inc. reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 97.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,416 shares of the casino operator's stock after selling 655,381 shares during the quarter. Nomura Holdings Inc.'s holdings in Wynn Resorts were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after buying an additional 485,204 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Regal Partners Ltd raised its position in Wynn Resorts by 21.5% during the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator's stock valued at $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Wynn Resorts by 12.7% during the first quarter. Raymond James Financial Inc. now owns 992,022 shares of the casino operator's stock worth $82,834,000 after purchasing an additional 111,428 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Wynn Resorts by 108.5% in the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after purchasing an additional 441,558 shares in the last quarter. Institutional investors own 88.64% of the company's stock.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction 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. The trade was a 59.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company's stock.

Wynn Resorts Price Performance

Wynn Resorts stock traded down $1.99 during mid-day trading on Friday, reaching $120.90. The stock had a trading volume of 2,439,928 shares, compared to its average volume of 2,132,621. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $128.53. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 6.22 and a beta of 1.37. The company has a 50-day moving average price of $111.62 and a two-hundred day moving average price of $94.32.

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

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts's dividend payout ratio is 30.03%.

Wall Street Analyst Weigh In

WYNN has been the topic of several research reports. Barclays lifted their price target on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Citigroup restated a "neutral" rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research report on Wednesday, July 9th. Mizuho lifted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Morgan Stanley increased their target price on Wynn Resorts from $111.00 to $113.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Finally, UBS Group raised Wynn Resorts from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $101.00 to $147.00 in a research note on Thursday, August 28th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Wynn Resorts has an average rating of "Moderate Buy" and a consensus target price of $123.47.

About Wynn Resorts

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.