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

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

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $85.83 on Thursday. The company has a market capitalization of $9.11 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The business’s fifty day moving average is $85.93 and its 200 day moving average is $89.10.

Wynn Resorts (NASDAQ:WYNN) last released 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 analysts’ expectations of $1.78 billion. On average, sell-side analysts forecast 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. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WYNN. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Macquarie reiterated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley dropped their target price 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. Two 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. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $119.58.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors have recently made changes to their positions in WYNN. Fisher Asset Management LLC grew its position in Wynn Resorts by 70.7% in the third 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 during the fourth quarter worth about $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $101,375,000. Raymond James Financial Inc. bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $75,872,000. Finally, Holocene Advisors LP raised its holdings in shares of Wynn Resorts by 27,868.5% during the 3rd 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 in the last quarter. Institutional investors own 88.64% of the company’s stock.

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.