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

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta acquired 11,475 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was acquired at an average cost of $84.93 per share, for a total transaction of $974,571.75. Following the completion of the acquisition, the insider now directly owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. The trade was a 0.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at 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 Performance

Wynn Resorts stock opened at $86.15 on Friday. The stock has a market capitalization of $9.15 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.35 and a beta of 1.77. The company’s fifty day moving average price is $86.00 and its 200 day moving average price is $89.08. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.78 billion. Sell-side analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders 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 annualized dividend and a yield of 1.16%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Wall Street Analyst Weigh In

Several research firms have commented on WYNN. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $119.58.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently made changes to their positions in the company. PKO Investment Management Joint Stock Co purchased a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $948,000. Siemens Fonds Invest GmbH acquired a new stake in Wynn Resorts during the 4th quarter worth $115,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $1,361,000. Heck Capital Advisors LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $386,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Wynn Resorts in the fourth quarter worth about $282,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.