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

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta purchased 11,475 shares of Wynn Resorts stock in a transaction dated Monday, March 24th. The shares were bought at an average price of $84.93 per share, with a total value of $974,571.75. Following the completion of the acquisition, the insider now directly owns 12,600,000 shares of the company’s stock, valued at approximately $1,070,118,000. This represents a 0.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $86.03 on Wednesday. The business’s fifty day moving average is $85.86 and its 200 day moving average is $89.13. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market capitalization of $9.13 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

WYNN has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays upped their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Stifel Nicolaus lifted 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. Two 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 stock. According to 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

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Wynn Resorts by 90.6% during the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock valued at $11,094,000 after buying an additional 54,995 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $75,872,000. Empirical Asset Management LLC bought a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $903,000. Cookson Peirce & Co. Inc. grew its holdings in shares of Wynn Resorts by 79.8% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock valued at $2,915,000 after purchasing an additional 15,017 shares in the last quarter. Finally, ARGA Investment Management LP bought a new stake in Wynn Resorts in the third quarter worth $2,174,000. Hedge funds and other institutional investors 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.