Wynn Resorts, Limited (NASDAQ:WYNN) Director Sells $111,815.00 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) Director Patricia Mulroy sold 1,100 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $101.65, for a total value of $111,815.00. Following the completion of the sale, the director now directly owns 1,982 shares of the company’s stock, valued at $201,470.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.11 during trading on Friday, reaching $101.13. The company’s stock had a trading volume of 1,804,747 shares, compared to its average volume of 2,529,355. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of -47.26 and a beta of 2.03. Wynn Resorts, Limited has a twelve month low of $50.20 and a twelve month high of $117.86. The business’s fifty day moving average price is $109.14 and its 200-day moving average price is $99.26.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last released its earnings results on Tuesday, May 9th. The casino operator reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.47. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the business posted ($1.21) EPS. The firm’s revenue was up 49.3% on a year-over-year basis. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 1.43 EPS for the current fiscal year.

Wynn Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, May 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. Wynn Resorts’s payout ratio is -46.73%.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Wynn Resorts by 4.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 61,023 shares of the casino operator’s stock valued at $3,846,000 after buying an additional 2,809 shares in the last quarter. First Republic Investment Management Inc. raised its stake in Wynn Resorts by 622.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 66,669 shares of the casino operator’s stock valued at $4,202,000 after purchasing an additional 57,445 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Wynn Resorts by 14.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,537 shares of the casino operator’s stock valued at $2,177,000 after purchasing an additional 4,260 shares during the last quarter. Teza Capital Management LLC acquired a new position in Wynn Resorts in the 3rd quarter valued at about $232,000. Finally, AE Wealth Management LLC raised its stake in Wynn Resorts by 4.5% in the 4th quarter. AE Wealth Management LLC now owns 52,198 shares of the casino operator’s stock valued at $4,305,000 after purchasing an additional 2,263 shares during the last quarter. 70.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on WYNN shares. Stifel Nicolaus upped their price target on Wynn Resorts from $127.00 to $137.00 in a research note on Wednesday, May 10th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $128.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, April 13th. Citigroup boosted their price target on shares of Wynn Resorts from $134.50 to $138.00 in a research note on Wednesday, May 10th. Barclays raised shares of Wynn Resorts from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $135.00 in a research report on Wednesday, May 17th. Finally, TheStreet raised shares of Wynn Resorts from a “d+” rating to a “c-” rating in a research report on Tuesday, April 4th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $118.18.

Wynn Resorts Company Profile

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Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.