Tilman J. Fertitta Acquires 100,000 Shares of Wynn Resorts, Limited (NASDAQ:WYNN) Stock

Wynn Resorts, Limited (NASDAQ:WYNN) major shareholder Tilman J. Fertitta bought 100,000 shares of the stock in a transaction on Monday, April 7th. The shares were acquired at an average cost of $67.62 per share, with a total value 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 represents a 0.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Down 2.7 %

Shares of NASDAQ WYNN opened at $66.10 on Wednesday. The company has a market capitalization of $7.02 billion, a PE ratio of 15.70, a P/E/G ratio of 2.35 and a beta of 1.53. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81. The firm has a fifty day simple moving average of $84.19 and a 200 day simple moving average of $88.96.

Wynn Resorts (NASDAQ:WYNN) last posted 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. 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 during the quarter, compared to analyst estimates 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 Dividend Announcement

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

Institutional Trading of Wynn Resorts

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

Analyst Ratings Changes

WYNN has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Barclays upped their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.