Sumitomo Mitsui Trust Group Inc. Purchases 4,560 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 186,206 shares of the casino operator’s stock after acquiring an additional 4,560 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Wynn Resorts were worth $15,548,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Global X Japan Co. Ltd. boosted its position in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock worth $35,000 after purchasing an additional 409 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $45,000. Finally, Garde Capital Inc. bought a new stake in shares of Wynn Resorts in the 1st quarter worth approximately $73,000. 88.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,262 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director directly owned 3,066 shares of the company’s stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tilman J. Fertitta bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the acquisition, the insider owned 13,000,000 shares in the company, valued at $879,060,000. This trade represents a 0.78% increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WYNN. Argus cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Wednesday, May 7th. Wall Street Zen cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research report on Monday, June 23rd. They issued an “overweight” rating and a $109.00 price objective on the stock. Finally, Barclays lowered their price objective on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.82.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $105.52 on Friday. The business’s fifty day moving average price is $89.56 and its 200-day moving average price is $85.51. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.03 and a beta of 1.37. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. Wynn Resorts’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. Equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. Wynn Resorts’s dividend payout ratio is currently 27.78%.

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.