Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Purchases $406,974.75 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the transaction, the insider now directly owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Wynn Resorts Stock Up 2.3 %

WYNN traded up $1.91 on Tuesday, hitting $86.78. 998,909 shares of the company traded hands, compared to its average volume of 2,562,323. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a 50 day moving average of $85.78 and a 200-day moving average of $89.06. The stock has a market capitalization of $9.21 billion, a PE ratio of 20.57, a PEG ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Morgan Stanley decreased their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Finally, Mizuho increased their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Two research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Institutional Trading of Wynn Resorts

Institutional investors have recently modified their holdings of the business. IHT Wealth Management LLC lifted its stake in shares of Wynn Resorts by 1.7% in the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after purchasing an additional 112 shares during the period. Fifth Third Bancorp increased its holdings in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after buying an additional 119 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after buying an additional 122 shares in the last quarter. BOKF NA lifted its position in shares of Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock valued at $289,000 after acquiring an additional 132 shares during the period. Finally, Snowden Capital Advisors LLC boosted its stake in shares of Wynn Resorts by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock worth $223,000 after acquiring an additional 138 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other 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.