Daiwa Securities Group Inc. Has $1.16 Million Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Daiwa Securities Group Inc. grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 13.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,058 shares of the casino operator’s stock after purchasing an additional 1,416 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Wynn Resorts were worth $1,156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WYNN. Tidal Investments LLC raised its position in shares of Wynn Resorts by 157.7% in the 1st quarter. Tidal Investments LLC now owns 9,186 shares of the casino operator’s stock valued at $939,000 after buying an additional 5,621 shares in the last quarter. Comerica Bank grew its holdings in shares of Wynn Resorts by 56.0% during the 1st quarter. Comerica Bank now owns 25,881 shares of the casino operator’s stock valued at $2,646,000 after purchasing an additional 9,295 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after purchasing an additional 19,889 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Wynn Resorts by 9.4% during the 1st quarter. Cetera Advisors LLC now owns 9,870 shares of the casino operator’s stock valued at $1,009,000 after purchasing an additional 850 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Wynn Resorts by 2.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,229 shares of the casino operator’s stock valued at $1,239,000 after purchasing an additional 300 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $94.38 on Friday. The company has a market capitalization of $10.36 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 3.36 and a beta of 1.80. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company’s 50 day moving average price is $94.60 and its 200-day moving average price is $88.01.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. Analysts forecast that Wynn Resorts, Limited will post 4.78 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.06%. Wynn Resorts’s payout ratio is presently 12.33%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays decreased their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

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.