Insider Buying: Wynn Resorts, Limited (NASDAQ:WYNN) Director Acquires $2,046,396.00 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $93.47 on Friday. The company’s fifty day simple moving average is $85.39 and its 200-day simple moving average is $87.14. The stock has a market capitalization of $9.95 billion, a PE ratio of 22.20, a P/E/G ratio of 2.64 and a beta of 1.76. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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, research analysts anticipate that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and raised their target price for the stock from $105.00 to $118.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Mizuho raised their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of “Buy” and an average target price of $120.58.

Institutional Trading of Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $36,000. Spire Wealth Management raised its position in shares of Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Wynn Resorts during the 4th quarter valued at $45,000. 88.64% of the stock is currently owned by institutional investors.

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.