Deutsche Bank AG Increases Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Deutsche Bank AG grew its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 108.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 848,636 shares of the casino operator’s stock after purchasing an additional 441,558 shares during the period. Deutsche Bank AG owned about 0.77% of Wynn Resorts worth $73,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WYNN. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts during the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts during the third quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $36,000. Spire Wealth Management increased its position in shares of Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after buying an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Insider Activity

In related news, major shareholder Tilman J. Fertitta bought 5,025 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the transaction, the insider now directly owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This represents a 0.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 438,700 shares of company stock valued at $31,300,943. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Stock Up 8.2%

Shares of NASDAQ:WYNN opened at $95.16 on Tuesday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The stock has a market cap of $9.95 billion, a P/E ratio of 22.60, a PEG ratio of 2.35 and a beta of 1.33. The business has a fifty day moving average of $80.74 and a two-hundred day moving average of $85.70.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company posted $1.59 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company 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 is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Wynn Resorts’s dividend payout ratio is currently 27.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WYNN shares. Morgan Stanley dropped their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Argus lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, April 23rd. Mizuho reduced their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Citigroup upgraded Wynn Resorts from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.92.

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.