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

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

Wynn Resorts Price Performance

Shares of NASDAQ WYNN traded up $1.91 during mid-day trading on Tuesday, reaching $86.78. 998,909 shares of the company traded hands, compared to its average volume of 2,562,323. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market cap of $9.21 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The stock has a fifty day simple moving average of $85.78 and a 200-day simple moving average of $89.06.

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

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Institutional Investors Weigh In On Wynn Resorts

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WYNN. Morgan Stanley lowered their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, Macquarie restated an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Two research 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 company’s stock. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

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.