Deutsche Bank AG Buys 441,558 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Deutsche Bank AG lifted its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 108.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 848,636 shares of the casino operator's stock after purchasing an additional 441,558 shares during the quarter. Deutsche Bank AG owned about 0.77% of Wynn Resorts worth $73,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the 3rd quarter worth $31,000. Principal Financial Group Inc. increased its stake in Wynn Resorts by 1.9% during the third quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator's stock worth $10,361,000 after acquiring an additional 2,001 shares during the last quarter. Czech National Bank raised its holdings in shares of Wynn Resorts by 5.3% in the 4th quarter. Czech National Bank now owns 20,059 shares of the casino operator's stock worth $1,728,000 after purchasing an additional 1,010 shares during the period. Wedmont Private Capital lifted its stake in shares of Wynn Resorts by 7.5% in the 4th quarter. Wedmont Private Capital now owns 2,638 shares of the casino operator's stock valued at $214,000 after purchasing an additional 183 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Wynn Resorts during the 4th quarter worth about $3,088,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

Insider Activity

In related news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the purchase, the insider now owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. The trade was a 0.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Philip G. Satre bought 22,200 shares of Wynn Resorts 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 owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho reduced their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Argus lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a research report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price objective on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $112.92.

Wynn Resorts Trading Down 1.0%

WYNN stock traded down $0.99 during mid-day trading on Friday, hitting $96.76. The stock had a trading volume of 2,196,323 shares, compared to its average volume of 2,521,107. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $107.81. The company has a fifty day moving average of $81.27 and a 200 day moving average of $85.85.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company's quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 EPS. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.03%. Wynn Resorts's dividend payout ratio is currently 27.78%.

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.