Wynn Resorts, Limited (NASDAQ:WYNN) Director Buys $2,046,396.00 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded up $2.39 on Tuesday, hitting $91.21. The company’s stock had a trading volume of 5,185,612 shares, compared to its average volume of 2,918,731. The company has a 50-day simple moving average of $85.45 and a 200 day simple moving average of $87.06. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The company has a market capitalization of $10.02 billion, a PE ratio of 11.25, a PEG ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts expect that Wynn Resorts, Limited will post 4.69 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of the company. IHT Wealth Management LLC increased its position in shares of Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after purchasing an additional 112 shares during the last quarter. Fifth Third Bancorp grew its position in Wynn Resorts by 5.8% during the 4th quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after acquiring an additional 119 shares during the last quarter. Venturi Wealth Management LLC grew its position in Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock worth $81,000 after acquiring an additional 122 shares during the last quarter. BOKF NA grew its position in Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after acquiring an additional 132 shares during the last quarter. Finally, Allworth Financial LP grew its position in Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WYNN. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price target for the company from $105.00 to $118.00 in a research report on Tuesday. Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. Barclays increased their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $120.58.

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.