Wynn Resorts, Limited $WYNN Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 75.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,146 shares of the casino operator’s stock after selling 6,473 shares during the quarter. Titleist Asset Management LLC’s holdings in Wynn Resorts were worth $275,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts during the 2nd quarter worth $25,000. Root Financial Partners LLC acquired a new stake in shares of Wynn Resorts during the third quarter valued at about $26,000. Manchester Capital Management LLC grew its stake in shares of Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. MTM Investment Management LLC purchased a new stake in shares of Wynn Resorts during the second quarter worth about $31,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Wynn Resorts in the third quarter worth about $31,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $113.20 on Friday. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $134.72. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 9.87 and a beta of 1.06. The business has a 50 day simple moving average of $120.16 and a 200 day simple moving average of $119.86.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WYNN has been the topic of several analyst reports. Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Wells Fargo & Company initiated coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, December 29th. Finally, Barclays increased their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.15.

Wynn Resorts Company Profile

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.