Insider Buying: Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Purchases 5,025 Shares of Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta purchased 5,025 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the purchase, the insider now owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $85.83 on Thursday. The stock has a fifty day moving average price of $85.93 and a 200 day moving average price of $89.10. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market cap of $9.11 billion, a PE ratio of 20.39, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Institutional Trading of Wynn Resorts

A number of institutional investors have recently modified their holdings of WYNN. New Wave Wealth Advisors LLC purchased a new position in Wynn Resorts in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wynn Resorts in the third quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $36,000. Spire Wealth Management grew its position in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares during the period. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Wynn Resorts in the fourth quarter valued at about $45,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WYNN. Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Macquarie restated an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Barclays lifted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Two equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus 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.