Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Tilman J. Fertitta Purchases 5,025 Shares of Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta bought 5,025 shares of Wynn Resorts stock in a transaction on Friday, March 21st. The stock was purchased 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. This represents a 0.05 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large 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 Up 1.4 %

WYNN opened at $86.03 on Wednesday. The firm’s 50 day moving average is $85.86 and its 200-day moving average is $89.13. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $9.13 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm 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 of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Analysts Set New Price Targets

WYNN has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Barclays boosted their price objective 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. Morgan Stanley cut their target price on 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, StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors have recently made changes to their positions in WYNN. Thrivent Financial for Lutherans increased its stake in shares of Wynn Resorts by 49.2% in the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after buying an additional 3,850 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Wynn Resorts during the third quarter worth about $202,000. Cerity Partners LLC grew its stake in Wynn Resorts by 7.0% in the third quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock worth $5,150,000 after purchasing an additional 3,521 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Wynn Resorts by 13.3% in the third quarter. Daiwa Securities Group Inc. now owns 12,058 shares of the casino operator’s stock valued at $1,156,000 after buying an additional 1,416 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

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.