Titleist Asset Management LLC Makes New Investment in Wynn Resorts, Limited (NASDAQ:WYNN)

Titleist Asset Management LLC acquired a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,236 shares of the casino operator’s stock, valued at approximately $3,036,000.

A number of other hedge funds also recently modified their holdings of WYNN. Public Sector Pension Investment Board lifted its position in Wynn Resorts by 6.9% during the third 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 last quarter. Captrust Financial Advisors lifted its holdings in Wynn Resorts by 41.2% during the 3rd quarter. Captrust Financial Advisors now owns 4,165 shares of the casino operator’s stock worth $399,000 after purchasing an additional 1,215 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in Wynn Resorts during the 3rd quarter worth approximately $260,000. Investment Management Corp of Ontario bought a new stake in Wynn Resorts in the 3rd quarter valued at $322,000. Finally, IHT Wealth Management LLC grew its holdings in Wynn Resorts by 1.7% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Activity

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the acquisition, the insider now owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This trade represents a 0.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 38,700 shares of company stock valued at $3,427,943. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WYNN shares. Morgan Stanley reduced their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Finally, Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Price Performance

WYNN stock opened at $70.09 on Friday. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.35 and a beta of 1.53. The company has a 50 day simple moving average of $85.25 and a 200 day simple moving average of $89.23. Wynn Resorts, Limited has a 1 year low of $66.20 and a 1 year 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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

About Wynn Resorts

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.