Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) major shareholder Tilman J. Fertitta bought 100,000 shares of Wynn Resorts stock in a transaction dated Monday, April 7th. The stock was purchased at an average cost of $67.62 per share, for a total transaction of $6,762,000.00. Following the purchase, the insider now owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. This trade represents a 0.78 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Wynn Resorts Stock Performance
Shares of WYNN traded up $0.89 during midday trading on Friday, hitting $73.19. The company had a trading volume of 2,710,084 shares, compared to its average volume of 2,459,996. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $107.81. The firm has a market capitalization of $7.77 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.35 and a beta of 1.53. The company's 50-day simple moving average is $83.27 and its 200-day simple moving average is $88.68.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.
Wynn Resorts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.37%. Wynn Resorts's dividend payout ratio (DPR) is currently 23.75%.
Institutional Investors Weigh In On Wynn Resorts
A number of hedge funds have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Wynn Resorts in the 3rd quarter valued at approximately $31,000. SBI Securities Co. Ltd. purchased a new stake in Wynn Resorts during the fourth quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after purchasing an additional 409 shares during the last quarter. Finally, Spire Wealth Management raised its stake in shares of Wynn Resorts by 116.4% during the 4th 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 last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Mizuho raised their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Stifel Nicolaus raised their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. StockNews.com downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $119.58.
View Our Latest Stock Analysis on Wynn Resorts
About Wynn Resorts
(
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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.
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