Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Buys $974,571.75 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta purchased 11,475 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was bought at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the transaction, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $86.03 on Wednesday. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a 50-day moving average of $85.86 and a 200 day moving average of $89.13. The firm has a market cap of $9.13 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WYNN shares. Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Mizuho raised their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.58.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its position in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Norges Bank purchased a new stake in shares of Wynn Resorts during the fourth quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Wynn Resorts in the 4th quarter valued at about $101,375,000. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts in the 4th quarter worth approximately $75,872,000. Finally, Holocene Advisors LP raised its stake in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after acquiring an additional 755,236 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.