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

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta bought 5,025 shares of the business’s stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wynn Resorts Stock Up 0.4 %

Shares of WYNN opened at $86.15 on Friday. The company has a 50-day moving average price of $86.00 and a two-hundred day moving average price of $89.08. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38.

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

Wynn Resorts Dividend Announcement

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

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts in the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Wynn Resorts in the 4th quarter worth approximately $36,000. Spire Wealth Management boosted its holdings in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the 4th quarter worth approximately $45,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WYNN shares. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley cut their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Mizuho raised their price objective 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. Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Macquarie reissued an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.58.

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.