Deutsche Bank AG Invests $26.60 Million in Wynn Resorts, Limited $WYNN

Key Points

• Deutsche Bank acquired 273,958 Wynn Resorts shares worth approximately $26.6 million in the second quarter, representing about 0.26% of the company. Institutional investors collectively own 88.64% of Wynn Resorts.
• Wynn Resorts reported quarterly EPS of $1.24, beating estimates of $0.99, while revenue rose 6.9% year over year to $1.86 billion. The company also declared a $0.25 quarterly dividend, equivalent to a 1.0% annual yield.
• Analysts maintain a consensus rating of “Moderate Buy” with an average price target of $134.19, above the stock’s reported opening price of $100.28.

Deutsche Bank AG bought a new stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 273,958 shares of the casino operator's stock, valued at approximately $26,599,000. Deutsche Bank AG owned about 0.26% of Wynn Resorts as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its holdings in Wynn Resorts by 46.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator's stock worth $92,676,000 after acquiring an additional 243,179 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Wynn Resorts by 97.5% in the 4th quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator's stock valued at $2,697,000 after purchasing an additional 11,067 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Wynn Resorts by 579.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 20,689 shares of the casino operator's stock valued at $2,530,000 after purchasing an additional 17,642 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth approximately $1,053,000. Finally, Amundi lifted its position in shares of Wynn Resorts by 161.6% in the 1st quarter. Amundi now owns 65,492 shares of the casino operator's stock worth $6,651,000 after purchasing an additional 40,454 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $100.28 on Friday. Wynn Resorts, Limited has a fifty-two week low of $92.52 and a fifty-two week high of $134.72. The stock's 50-day simple moving average is $99.78 and its 200-day simple moving average is $102.99. The firm has a market capitalization of $10.33 billion, a PE ratio of 24.88, a P/E/G ratio of 0.88 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $1.09 earnings per share. Wynn Resorts's revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Wynn Resorts, Limited will post 4.63 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Wynn Resorts's dividend payout ratio (DPR) is currently 24.81%.

Analysts Set New Price Targets

Several research analysts have recently commented on WYNN shares. Truist Financial began coverage on Wynn Resorts in a research report on Wednesday, July 8th. They issued a "buy" rating and a $125.00 price target for the company. Mizuho dropped their price objective on Wynn Resorts from $133.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 28th. Wells Fargo & Company cut their target price on Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. Bank of America reduced their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.19.

About Wynn Resorts

Wynn Resorts, Limited NASDAQ: WYNN is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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