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Highlights
- Asset Management One Co. Ltd. has slightly increased its holdings in Wynn Resorts (NASDAQ:WYNN) during the fourth quarter.
- Several institutional investors made significant modifications to their holdings in the company.
- Wynn Resorts announced a quarterly dividend, maintaining investor interest.
Asset Management One Co. Ltd. raised its stake in Wynn Resorts (NASDAQ:WYNN) by 1.6% during the fourth quarter, as disclosed in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor's stake now totals 36,309 shares, with an additional purchase of 569 shares within the quarter. This brings the company's stake value to approximately $3.22 million.
Besides Asset Management One, other institutional investors have also engaged actively with Wynn Resorts. New Wave Wealth Advisors LLC acquired a new stake valued at $26,000 during this period. Similarly, Wilmington Savings Fund Society FSB initiated a position with a value of $31,000 in the previous quarter, and Spire Wealth Management increased its holding by 116.4% during the fourth quarter. Furthermore, Blue Trust Inc. expanded its holding significantly by 556.0% in the third quarter. Finally, Allworth Financial LP enhanced its stake by 17.5%. These moves reflect the high level of institutional interest, with 88.64% of the stock currently held by institutional investors.
Market Performance and Financial Indicators
Wynn Resorts' shares opened at $92.26 recently, showing an upward movement of 1.2%. The stock's performance over the past 50 days shows an average of $85.39, with a 200-day moving average of $87.10. The company's market capitalization stands at $9.82 billion, a price-to-earnings (PE) ratio of 21.91, and a price-to-earnings-growth ratio of 2.57, with a beta of 1.76, indicating moderate volatility. Wynn Resorts has witnessed a 52-week range from a low of $71.63 to a high of $110.38.
Earnings and Dividend Announcement
Wynn Resorts announced earnings on a recent Thursday, revealing an EPS of $2.42, surpassing consensus estimates by $1.15. The revenue for the quarter was reported at $1.84 billion, exceeding the anticipated $1.78 billion. Despite achieving these sales numbers, the company's negative return on equity stands at 71.17%, while its net margin is recorded at 7.03%. Analysts forecast the company will post an EPS of 4.87 for the current fiscal year.
The announcement of a quarterly dividend of $0.25 per share is scheduled for March. Investors recorded by February 24th will receive the payout, which translates to a $1.00 annualized dividend with a yield of 1.08%. The dividend payout ratio for Wynn Resorts currently stands at 23.75%.
Insider and Analyst Activities
In company insider activities, Director Philip G. Satre acquired 22,200 shares in a transaction averaging $92.18 per share for a total of $2,046,396.00. This stock purchase increased his current holding by 185.08%, underscoring notable insider confidence in the company's future direction.
Analyst recommendations for Wynn Resorts have generally been positive. Among these, Stifel Nicolaus raised their target price to $128.00, and Jefferies Financial Group upgraded their rating, lifting the target price to $118.00. The aggregate sentiment among analysts shows a "Buy" consensus, with an average target price of $120.58.
Wynn Resorts, Limited specializes in the development and operation of a portfolio of luxury integrated casino resorts. The company's business segments include Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. Its venues are notable for offering exceptional amenities such as private gaming, high-class accommodations, dining, and entertainment offerings, making them essential to its competitive and market positioning.
