Tilman J. Fertitta Acquires 300,000 Shares of Wynn Resorts, Limited (NASDAQ:WYNN) Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta purchased 300,000 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average price 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. The trade was a 2.38 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Wynn Resorts Stock Down 2.7 %

Shares of NASDAQ:WYNN traded down $1.83 during trading on Tuesday, reaching $66.10. 4,082,070 shares of the company traded hands, compared to its average volume of 2,411,740. The firm has a market capitalization of $7.02 billion, a PE ratio of 15.70, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a 52 week low of $65.27 and a 52 week high of $108.50. The company’s 50 day moving average is $84.91 and its two-hundred day moving average is $89.21.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during 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%. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.51%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts in the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts in the 4th quarter valued at $36,000. Spire Wealth Management increased its position in shares of Wynn Resorts by 116.4% during the fourth 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 period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts during the fourth quarter worth $45,000. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several analyst reports. Barclays boosted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating 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. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Finally, Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.