Insider Buying: Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Purchases 100,000 Shares of Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta acquired 100,000 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was purchased at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the transaction, the insider now owns 13,000,000 shares in the company, valued at $879,060,000. The trade was a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Wynn Resorts Price Performance

WYNN stock traded down $1.83 on Tuesday, reaching $66.10. The company’s stock had a trading volume of 4,082,070 shares, compared to its average volume of 2,411,740. Wynn Resorts, Limited has a 52 week low of $65.27 and a 52 week high of $108.50. The company has a market capitalization of $7.02 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The firm has a fifty day moving average of $84.91 and a two-hundred day moving average of $89.21.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data 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. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth $26,000. Wilmington Savings Fund Society FSB bought a new stake in Wynn Resorts in the third quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new stake in Wynn Resorts in the 4th quarter valued at about $36,000. Spire Wealth Management boosted its holdings in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $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 during the fourth quarter valued at $45,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and raised their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Barclays increased their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Morgan Stanley dropped their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.