Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) major shareholder Tilman J. Fertitta acquired 5,025 shares of Wynn Resorts stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the transaction, the insider now directly owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. This trade represents a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Wynn Resorts Trading Down 4.4 %
WYNN stock traded down $3.82 during mid-day trading on Friday, hitting $82.33. The stock had a trading volume of 2,484,396 shares, compared to its average volume of 2,357,221. The firm has a fifty day simple moving average of $85.96 and a 200 day simple moving average of $89.12. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The firm has a market capitalization of $8.74 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.35 and a beta of 1.77.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.
Wynn Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.
Wall Street Analysts Forecast Growth
WYNN has been the subject of a number of recent research reports. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley decreased their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Mizuho lifted their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. Finally, Barclays increased their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. 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 stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $119.58.
Check Out Our Latest Stock Analysis on Wynn Resorts
Institutional Trading of Wynn Resorts
Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Wynn Resorts by 90.6% during the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator's stock worth $11,094,000 after acquiring an additional 54,995 shares during the last quarter. Raymond James Financial Inc. bought a new position in Wynn Resorts in the 4th quarter valued at approximately $75,872,000. Empirical Asset Management LLC acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $903,000. Cookson Peirce & Co. Inc. increased its position in Wynn Resorts by 79.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator's stock valued at $2,915,000 after acquiring an additional 15,017 shares during the period. Finally, ARGA Investment Management LP bought a new stake in shares of Wynn Resorts in the third quarter worth $2,174,000. Institutional investors own 88.64% of the company's stock.
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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