Titleist Asset Management LLC Sells 4,400 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Titleist Asset Management LLC reduced its holdings in Wynn Resorts by 12.5%, owning 30,836 shares worth approximately $2.58 million after selling 4,400 shares in the first quarter.
• Recent earnings data revealed that Wynn Resorts reported $1.09 EPS for the quarter, missing consensus estimates of $1.20 EPS, with revenue reaching $1.74 billion.
• Wynn Resorts announced a $0.25 quarterly dividend, equating to an annualized yield of 0.8%, with a payout ratio of 30.03%.

Titleist Asset Management LLC lowered its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,836 shares of the casino operator's stock after selling 4,400 shares during the quarter. Titleist Asset Management LLC's holdings in Wynn Resorts were worth $2,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WYNN. American Assets Inc. grew its stake in shares of Wynn Resorts by 52.2% in the 4th quarter. American Assets Inc. now owns 10,200 shares of the casino operator's stock worth $879,000 after acquiring an additional 3,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wynn Resorts by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 613,343 shares of the casino operator's stock worth $52,845,000 after purchasing an additional 13,100 shares during the last quarter. Northern Trust Corp grew its position in Wynn Resorts by 6.5% in the 4th quarter. Northern Trust Corp now owns 821,684 shares of the casino operator's stock worth $70,796,000 after purchasing an additional 50,428 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Wynn Resorts by 370.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 39,959 shares of the casino operator's stock valued at $3,443,000 after buying an additional 31,466 shares during the last quarter. Finally, Aristeia Capital L.L.C. purchased a new position in Wynn Resorts in the fourth quarter worth $413,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Citigroup reaffirmed a "neutral" rating and issued a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. JPMorgan Chase & Co. started coverage on Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Macquarie raised their target price on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Finally, Mizuho upped their price target on Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Wynn Resorts currently has an average rating of "Moderate Buy" and an average price target of $121.93.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded down $1.28 during trading on Tuesday, hitting $125.47. 1,528,473 shares of the company were exchanged, compared to its average volume of 2,457,973. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $128.53. The stock has a 50 day moving average of $109.13 and a 200 day moving average of $93.42. The company has a market cap of $13.05 billion, a PE ratio of 37.68, a P/E/G ratio of 6.76 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio is presently 30.03%.

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.