Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Wynn Resorts by 45.2%, owning 464,811 shares worth approximately $38.8 million post-sale.
• Wynn Resorts declared a quarterly dividend of $0.25 per share, representing a 0.9% yield, with a payout ratio of 30.03%.
• The stock has seen a significant price movement, with a 52-week range from $65.25 to $112.57, and currently trades at $112.49.

Deutsche Bank AG reduced its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 45.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,811 shares of the casino operator's stock after selling 383,825 shares during the period. Deutsche Bank AG owned 0.44% of Wynn Resorts worth $38,812,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State of Tennessee Department of Treasury grew its stake in Wynn Resorts by 73.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock worth $2,050,000 after acquiring an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Wynn Resorts by 190.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock worth $1,706,000 after acquiring an additional 12,993 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $2,296,000. Boothbay Fund Management LLC grew its stake in Wynn Resorts by 67.2% in the 4th quarter. Boothbay Fund Management LLC now owns 27,973 shares of the casino operator's stock worth $2,410,000 after acquiring an additional 11,238 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of Wynn Resorts by 15.0% during the 4th quarter. Gabelli Funds LLC now owns 60,400 shares of the casino operator's stock valued at $5,204,000 after buying an additional 7,900 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $112.49 on Wednesday. The firm has a 50-day moving average of $100.72 and a two-hundred day moving average of $90.08. The stock has a market cap of $11.70 billion, a P/E ratio of 33.78, a PEG ratio of 2.99 and a beta of 1.41. Wynn Resorts, Limited has a 1-year low of $65.25 and a 1-year high of $112.57.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is presently 30.03%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. Macquarie boosted their price objective on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. began coverage on shares of Wynn Resorts in a research note on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research note on Monday. Citigroup reissued a "neutral" rating and set a $114.00 price objective (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th. Finally, Mizuho boosted their price objective on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an "outperform" rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.