Rakuten Investment Management Inc. Takes $51.16 Million Position in Wynn Resorts, Limited $WYNN

Rakuten Investment Management Inc. purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 398,868 shares of the casino operator’s stock, valued at approximately $51,163,000. Rakuten Investment Management Inc. owned about 0.38% of Wynn Resorts at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP increased its position in Wynn Resorts by 36.2% during the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock valued at $632,000 after acquiring an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares during the period. CX Institutional lifted its holdings in shares of Wynn Resorts by 6.7% in the 2nd quarter. CX Institutional now owns 3,058 shares of the casino operator’s stock worth $286,000 after acquiring an additional 192 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Wynn Resorts by 376.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,077 shares of the casino operator’s stock worth $101,000 after purchasing an additional 851 shares during the period. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Trading Down 2.7%

WYNN opened at $111.28 on Wednesday. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 14.65 and a beta of 1.08. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72. The stock has a fifty day moving average price of $122.69 and a 200-day moving average price of $119.82.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the firm earned $0.90 EPS. Wynn Resorts’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group raised their price objective on shares of Wynn Resorts from $147.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised their price target on shares of Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, December 29th. Mizuho lifted their price target on shares of Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. Finally, Texas Capital upgraded Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.15.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.