Tilman J. Fertitta Acquires 5,025 Shares of Wynn Resorts, Limited (NASDAQ:WYNN) Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta purchased 5,025 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $80.99 per share, for a total transaction 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. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Wynn Resorts Stock Down 0.2 %

WYNN opened at $85.83 on Thursday. Wynn Resorts, Limited has a 52 week low of $71.63 and a 52 week high of $110.38. The business has a fifty day simple moving average of $85.93 and a 200-day simple moving average of $89.10. The firm has a market cap of $9.11 billion, a P/E ratio of 20.39, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The company 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%. Sell-side analysts expect that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio 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 business. PKO Investment Management Joint Stock Co acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at $948,000. Siemens Fonds Invest GmbH purchased a new stake in Wynn Resorts during the 4th quarter worth about $115,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Wynn Resorts in the 4th quarter valued at about $1,361,000. Heck Capital Advisors LLC purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $386,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Wynn Resorts during the fourth quarter worth about $282,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WYNN shares. Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Macquarie reaffirmed an “outperform” rating and set a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Two 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

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.