Wynn Resorts, Limited (NASDAQ:WYNN) Director Philip G. Satre Buys 22,200 Shares

Wynn Resorts, Limited (NASDAQ:WYNN) Director Philip G. Satre purchased 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Wynn Resorts Stock Up 2.7 %

WYNN stock opened at $91.21 on Wednesday. The firm has a 50 day moving average of $85.45 and a two-hundred day moving average of $87.06. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last issued 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. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, research analysts expect that Wynn Resorts, Limited will post 4.69 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s payout ratio is 12.33%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $105.00 to $118.00 in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Barclays upped their price objective on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $120.58.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Regal Partners Ltd raised its position in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares during the period. Wellington Management Group LLP raised its holdings in Wynn Resorts by 90.6% in the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after acquiring an additional 54,995 shares during the period. Empirical Asset Management LLC acquired a new position in Wynn Resorts during the 4th quarter worth $903,000. Crystal Rock Capital Management bought a new stake in Wynn Resorts during the third quarter valued at about $719,000. Finally, ARGA Investment Management LP acquired a new stake in shares of Wynn Resorts in the third quarter valued at about $2,174,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.