Insider Buying: Wynn Resorts, Limited (NASDAQ:WYNN) Major Shareholder Acquires $21,111,000.00 in Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta acquired 300,000 shares of Wynn Resorts stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $70.37 per share, with a total value of $21,111,000.00. Following the completion of the purchase, the insider now owns 12,900,000 shares of the company’s stock, valued at approximately $907,773,000. This represents a 2.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Wynn Resorts Stock Down 4.7 %

Wynn Resorts stock opened at $72.30 on Friday. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The firm’s fifty day moving average is $83.47 and its 200 day moving average is $88.75. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for 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%. On average, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on WYNN shares. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Mizuho lifted their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley cut their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Two research 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of WYNN. Norges Bank purchased a new position in Wynn Resorts during the fourth quarter worth $117,352,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Wynn Resorts in the 4th quarter worth about $101,375,000. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts during the 4th quarter worth about $75,872,000. Barrow Hanley Mewhinney & Strauss LLC grew its holdings 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 valued at $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Wynn Resorts by 108.5% in the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator’s stock worth $73,118,000 after purchasing an additional 441,558 shares during the period. 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.