Insider Buying: Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Purchases $6,762,000.00 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the acquisition, the insider now owns 13,000,000 shares in the company, valued at $879,060,000. This represents a 0.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $72.30 on Friday. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $107.81. The business has a 50 day simple moving average of $83.47 and a 200 day simple moving average of $88.75. The stock has a market capitalization of $7.68 billion, a P/E ratio of 17.17, a P/E/G ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data 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. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Institutional Trading of Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after buying an additional 485,204 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Wynn Resorts by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock worth $209,120,000 after purchasing an additional 26,792 shares in the last quarter. Jefferies Financial Group Inc. grew its position in Wynn Resorts by 9.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock valued at $145,059,000 after purchasing an additional 139,270 shares during the period. Renaissance Technologies LLC increased its stake in Wynn Resorts by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after purchasing an additional 228,000 shares in the last quarter. Finally, Norges Bank acquired a new position in Wynn Resorts during the fourth quarter worth $117,352,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Finally, Barclays raised their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.