Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Purchases $406,974.75 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta bought 5,025 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the acquisition, the insider now directly owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Wynn Resorts Trading Up 1.4 %

Shares of Wynn Resorts stock 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 stock has a 50-day moving average price of $85.86 and a 200 day moving average price of $89.13. The company has a market cap of $9.13 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.78 billion. On average, equities analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. Wellington Management Group LLP grew its position in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after acquiring an additional 54,995 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Wynn Resorts during the fourth quarter worth $75,872,000. Empirical Asset Management LLC bought a new position in Wynn Resorts during the fourth quarter valued at about $903,000. Cookson Peirce & Co. Inc. lifted its position in shares of Wynn Resorts by 79.8% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock worth $2,915,000 after buying an additional 15,017 shares during the last quarter. Finally, ARGA Investment Management LP bought a new stake in shares of Wynn Resorts during the 3rd quarter worth about $2,174,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Morgan Stanley decreased their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Two investment 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Company 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.