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

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) major shareholder Tilman J. Fertitta acquired 300,000 shares of the company's stock in a transaction on Friday, April 4th. The stock was bought at an average cost of $70.37 per share, with a total value of $21,111,000.00. Following the completion of the acquisition, the insider now directly owns 12,900,000 shares in the company, valued at approximately $907,773,000. This represents a 2.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Wynn Resorts Stock Performance

Shares of WYNN traded up $0.89 during trading hours 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. The firm has a fifty day moving average price of $83.27 and a 200-day moving average price of $88.68. Wynn Resorts, Limited has a 52-week low of $65.25 and a 52-week high of $107.81. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

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Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.37%. Wynn Resorts's dividend payout ratio (DPR) is 23.75%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Wynn Resorts by 3,408.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after purchasing an additional 409 shares during the period. Grassi Investment Management raised its stake in shares of Wynn Resorts by 4.2% in the first quarter. Grassi Investment Management now owns 3,690 shares of the casino operator's stock worth $308,000 after buying an additional 150 shares during the period. NBC Securities Inc. lifted its position in shares of Wynn Resorts by 100,056.3% during the 1st quarter. NBC Securities Inc. now owns 16,025 shares of the casino operator's stock valued at $1,338,000 after buying an additional 16,009 shares in the last quarter. Czech National Bank grew its stake in shares of Wynn Resorts by 2.6% during the 1st quarter. Czech National Bank now owns 20,573 shares of the casino operator's stock valued at $1,718,000 after acquiring an additional 514 shares during the period. Finally, Mirador Capital Partners LP grew its stake in shares of Wynn Resorts by 1.5% during the 1st quarter. Mirador Capital Partners LP now owns 47,236 shares of the casino operator's stock valued at $3,944,000 after acquiring an additional 700 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WYNN has been the topic of a number of research reports. Barclays upped their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Stifel Nicolaus increased their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Macquarie reissued an "outperform" rating and set a $115.00 target price 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 report on Wednesday, March 12th. Finally, Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and raised their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two equities research 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 MarketBeat, 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.