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

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta bought 11,475 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $84.93 per share, with a total value of $974,571.75. Following the purchase, the insider now directly owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Wynn Resorts Trading Up 2.3 %

Wynn Resorts stock traded up $1.91 during trading hours on Tuesday, reaching $86.78. 998,909 shares of the stock were exchanged, compared to its average volume of 2,562,323. The stock has a 50 day moving average of $85.78 and a two-hundred day moving average of $89.06. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The company has a market cap of $9.21 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion during 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%. On average, analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its stake in shares of Wynn Resorts by 49.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock valued at $1,120,000 after purchasing an additional 3,850 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Wynn Resorts in the third quarter valued at $202,000. Cerity Partners LLC raised its holdings in shares of Wynn Resorts by 7.0% during the third quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock valued at $5,150,000 after purchasing an additional 3,521 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Wynn Resorts by 13.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,058 shares of the casino operator’s stock worth $1,156,000 after purchasing an additional 1,416 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and upped their target price for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Mizuho boosted their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Finally, 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. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

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.