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

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Wynn Resorts by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after buying an additional 26,792 shares in the last quarter. Norges Bank bought a new position in Wynn Resorts in the 4th quarter worth approximately $117,352,000. Charles Schwab Investment Management Inc. grew its stake in Wynn Resorts by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator's stock valued at $82,062,000 after buying an additional 5,032 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Wynn Resorts during the 4th quarter valued at $75,872,000. 88.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tilman J. Fertitta acquired 100,000 shares of Wynn Resorts stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now owns 13,000,000 shares in the company, valued at $879,060,000. This represents a 0.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 438,700 shares of company stock valued at $31,300,943 over the last ninety days. 0.52% of the stock is owned by insiders.

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Wynn Resorts Stock Down 0.2 %

Shares of Wynn Resorts stock traded down $0.12 during trading on Friday, hitting $72.19. 1,087,522 shares of the stock traded hands, compared to its average volume of 2,791,142. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 52 week low of $65.25 and a 52 week high of $107.81. The firm's fifty day moving average is $83.47 and its 200-day moving average is $88.75.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. On average, analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio (DPR) is 23.75%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WYNN shares. Morgan Stanley reduced their price target on 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 price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Macquarie reaffirmed an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Barclays boosted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $119.58.

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.