Insider Selling: Wynn Resorts, Limited (NASDAQ:WYNN) Director Sells 2,650 Shares of Stock

Wynn Resorts, Limited (NASDAQ:WYNN) Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wynn Resorts Stock Up 1.3 %

WYNN traded up $1.05 during trading on Tuesday, reaching $80.00. 2,464,134 shares of the stock traded hands, compared to its average volume of 1,926,834. The stock’s 50-day moving average is $78.74 and its 200 day moving average is $90.17. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market capitalization of $8.97 billion, a PE ratio of 10.96, a P/E/G ratio of 1.93 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.55 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in WYNN. Lazari Capital Management Inc. boosted its holdings in Wynn Resorts by 26.4% in the second quarter. Lazari Capital Management Inc. now owns 12,796 shares of the casino operator’s stock worth $1,145,000 after acquiring an additional 2,676 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Wynn Resorts during the second quarter worth $694,000. Cetera Investment Advisers lifted its stake in shares of Wynn Resorts by 10.6% in the second quarter. Cetera Investment Advisers now owns 28,744 shares of the casino operator’s stock valued at $2,573,000 after buying an additional 2,764 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Wynn Resorts by 43.7% during the second quarter. Truist Financial Corp now owns 22,057 shares of the casino operator’s stock valued at $1,974,000 after buying an additional 6,711 shares during the last quarter. Finally, Quarry LP increased its position in shares of Wynn Resorts by 247.1% during the second quarter. Quarry LP now owns 2,034 shares of the casino operator’s stock worth $182,000 after acquiring an additional 1,448 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley decreased their target price on Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday. Macquarie reaffirmed an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

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.