Mirae Asset Global Investments Co. Ltd. Boosts Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 63.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,583 shares of the casino operator’s stock after acquiring an additional 2,954 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Wynn Resorts were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Empirical Finance LLC grew its holdings in shares of Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after acquiring an additional 114 shares during the period. EntryPoint Capital LLC grew its stake in Wynn Resorts by 7.2% in the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after purchasing an additional 117 shares during the period. Fifth Third Bancorp raised its holdings in Wynn Resorts by 8.5% in the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after purchasing an additional 120 shares in the last quarter. Allworth Financial LP lifted its position in Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after buying an additional 149 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $95.68 on Friday. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.49 and a beta of 1.80. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The business’s fifty day moving average price is $89.82 and its 200-day moving average price is $88.88.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Wynn Resorts, Limited will post 5.42 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.05%. Wynn Resorts’s payout ratio is presently 13.57%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WYNN. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group reduced their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Macquarie reissued an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.21.

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.