Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Tilman J. Fertitta Buys 11,475 Shares

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta acquired 11,475 shares of Wynn Resorts stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the transaction, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. This represents a 0.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Wynn Resorts Trading Up 0.4 %

WYNN opened at $86.15 on Friday. The stock’s 50-day moving average price is $86.00 and its 200 day moving average price is $89.08. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is currently 23.75%.

Institutional Trading of Wynn Resorts

A number of institutional investors have recently bought and sold shares of WYNN. Fisher Asset Management LLC raised its position in shares of Wynn Resorts by 70.7% during the 3rd 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. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after acquiring an additional 485,204 shares in the last quarter. Geode Capital Management LLC lifted its position in Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock valued at $209,120,000 after acquiring an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock valued at $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock worth $139,300,000 after purchasing an additional 228,000 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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