Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,753 shares of the casino operator’s stock after purchasing an additional 7,850 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Wynn Resorts worth $18,098,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares during the last quarter. Bamco Inc. NY lifted its position in Wynn Resorts by 5.1% during the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after buying an additional 38,160 shares during the period. Finally, Regal Partners Ltd lifted its position in Wynn Resorts by 5.6% during the second quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock worth $64,861,000 after buying an additional 38,344 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock opened at $90.74 on Monday. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a market cap of $9.96 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 3.26 and a beta of 1.80. The stock has a 50-day simple moving average of $92.12 and a 200-day simple moving average of $88.20.

Wynn Resorts (NASDAQ:WYNN) last posted 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 during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business posted $0.99 EPS. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s payout ratio is 12.33%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WYNN shares. Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research report on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus reduced their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Barclays reduced their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company cut their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts 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.