Nomura Asset Management Co. Ltd. lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,874 shares of the casino operator’s stock after acquiring an additional 356 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Wynn Resorts were worth $2,133,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in WYNN. Parallel Advisors LLC lifted its stake in shares of Wynn Resorts by 84.2% in the fourth quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock worth $25,000 after buying an additional 117 shares in the last quarter. JOYN Advisors Inc. lifted its stake in shares of Wynn Resorts by 1,680.0% in the fourth quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock worth $26,000 after buying an additional 252 shares in the last quarter. Optimum Investment Advisors purchased a new position in shares of Wynn Resorts in the first quarter worth about $36,000. Somerset Trust Co lifted its stake in shares of Wynn Resorts by 152.7% in the first quarter. Somerset Trust Co now owns 369 shares of the casino operator’s stock worth $44,000 after buying an additional 223 shares in the last quarter. Finally, First Hawaiian Bank increased its position in Wynn Resorts by 295.0% during the first quarter. First Hawaiian Bank now owns 395 shares of the casino operator’s stock worth $47,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 77.49% of the company’s stock.
Shares of NASDAQ:WYNN traded up $0.04 on Friday, reaching $123.99. 1,848,300 shares of the company were exchanged, compared to its average volume of 2,136,334. Wynn Resorts, Limited has a 1-year low of $90.06 and a 1-year high of $168.36. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 4.84. The stock’s 50-day simple moving average is $118.03. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.95 and a beta of 1.88.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 22nd were given a $1.00 dividend. The ex-dividend date was Tuesday, May 21st. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 3.23%. Wynn Resorts’s payout ratio is currently 61.16%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Thursday, April 4th. BidaskClub cut shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. Bank of America restated a “neutral” rating and set a $150.00 price objective (up from $145.00) on shares of Wynn Resorts in a research report on Wednesday, April 17th. Deutsche Bank lifted their price target on shares of Wynn Resorts from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $108.00 price target on shares of Wynn Resorts in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $147.75.
Wynn Resorts Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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