Mirae Asset Global Investments Co. Ltd. Purchases New Position in Wynn Resorts, Limited $WYNN

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,573 shares of the casino operator’s stock, valued at approximately $1,555,000.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp grew its position in shares of Wynn Resorts by 2.6% in the 2nd quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock valued at $295,924,000 after buying an additional 77,416 shares during the last quarter. BlackRock Inc. bought a new stake in Wynn Resorts in the second quarter valued at approximately $609,566,000. Penn Capital Management Company LLC bought a new position in Wynn Resorts during the 2nd quarter worth approximately $1,752,000. Biglari Capital CORP. bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at $13,961,639. Finally, Bank of America Corp DE bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at $74,504,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Up 4.8%

Wynn Resorts stock opened at $83.11 on Friday. The firm has a fifty day simple moving average of $80.68 and a two-hundred day simple moving average of $97.68. Wynn Resorts, Limited has a twelve month low of $70.79 and a twelve month high of $134.72. The company has a market capitalization of $8.56 billion, a PE ratio of 24.81, a P/E/G ratio of 1.01 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.19). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.75 billion. Wynn Resorts had a net margin of 5.20% and a negative return on equity of 43.01%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. As a group, equities analysts expect that Wynn Resorts, Limited will post 4.24 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, November 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

Key Stories Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WYNN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Monday, September 21st. Wolfe Research started coverage on shares of Wynn Resorts in a report on Wednesday, September 2nd. They issued an “outperform” rating and a $128.00 target price on the stock. Morgan Stanley cut their price target on shares of Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Zacks Research upgraded Wynn Resorts from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Argus lifted their price objective on Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.24.

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.

The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.

Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.