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 Wynn Resorts stock in a transaction on Friday, March 21st. The stock was bought at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares in the company, valued at $883,197,974.75. The trade was a 0.05 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Wynn Resorts Stock Performance

WYNN traded up $1.91 during trading on Tuesday, hitting $86.78. 998,909 shares of the stock were exchanged, compared to its average volume of 2,562,323. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.35 and a beta of 1.77. The firm has a 50 day simple moving average of $85.78 and a 200 day simple moving average of $89.06.

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, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion for 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%. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WYNN. IHT Wealth Management LLC grew its stake in Wynn Resorts by 1.7% in the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after acquiring an additional 112 shares during the period. Fifth Third Bancorp grew its position in shares of 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 purchasing an additional 119 shares during the period. Venturi Wealth Management LLC grew its position in shares of 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 purchasing an additional 122 shares during the period. BOKF NA increased its stake in shares of Wynn Resorts by 3.9% during the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after purchasing an additional 132 shares in the last quarter. Finally, Snowden Capital Advisors LLC lifted its stake in Wynn Resorts by 5.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock valued at $223,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on WYNN shares. Stifel Nicolaus upped their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Morgan Stanley decreased their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Finally, Barclays lifted their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.