Titleist Asset Management LLC Invests $3.04 Million in Wynn Resorts, Limited (NASDAQ:WYNN)

Titleist Asset Management LLC acquired a new position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 35,236 shares of the casino operator’s stock, valued at approximately $3,036,000.

Other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board grew its holdings in Wynn Resorts by 6.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,078 shares of the casino operator’s stock worth $295,000 after acquiring an additional 200 shares during the period. Captrust Financial Advisors boosted its position in shares of Wynn Resorts by 41.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock valued at $399,000 after purchasing an additional 1,215 shares in the last quarter. Hilltop Holdings Inc. acquired a new stake in Wynn Resorts during the third quarter worth approximately $260,000. Investment Management Corp of Ontario bought a new stake in Wynn Resorts in the third quarter worth approximately $322,000. Finally, IHT Wealth Management LLC lifted its stake in Wynn Resorts by 1.7% in the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after buying an additional 112 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 3.8 %

Shares of Wynn Resorts stock opened at $70.09 on Friday. The company has a market capitalization of $7.44 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The stock has a fifty day simple moving average of $85.25 and a 200 day simple moving average of $89.23. Wynn Resorts, Limited has a 12-month low of $66.20 and a 12-month high of $108.50.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. Wynn Resorts’s payout ratio is presently 23.75%.

Analyst Ratings Changes

Several research firms have recently weighed in on WYNN. Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Morgan Stanley cut their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus increased their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Tilman J. Fertitta purchased 5,025 shares of Wynn Resorts stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This trade represents a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 38,700 shares of company stock worth $3,427,943 in the last 90 days. Insiders own 0.52% of the company’s stock.

Wynn Resorts Company 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.