Daiwa Securities Group Inc. Purchases 655 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Daiwa Securities Group Inc. increased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,713 shares of the casino operator’s stock after purchasing an additional 655 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wynn Resorts were worth $1,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after purchasing an additional 54,995 shares during the period. Raymond James Financial Inc. bought a new position in Wynn Resorts in the fourth quarter worth $75,872,000. Empirical Asset Management LLC bought a new position in Wynn Resorts in the fourth quarter worth $903,000. Cookson Peirce & Co. Inc. lifted its position in Wynn Resorts by 79.8% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock worth $2,915,000 after purchasing an additional 15,017 shares during the period. Finally, ARGA Investment Management LP bought a new position in shares of Wynn Resorts during the third quarter valued at $2,174,000. 88.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WYNN shares. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley cut their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Mizuho lifted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Stifel Nicolaus lifted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Up 3.5 %

Shares of WYNN stock opened at $86.18 on Friday. The stock has a 50-day moving average price of $85.47 and a 200 day moving average price of $88.63. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Sell-side analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is currently 23.75%.

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.