Insider Buying: Wynn Resorts, Limited (NASDAQ:WYNN) Director Purchases 22,200 Shares of Stock

Wynn Resorts, Limited (NASDAQ:WYNN) Director Philip G. Satre purchased 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wynn Resorts Stock Up 1.2 %

Shares of NASDAQ WYNN opened at $92.26 on Thursday. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company’s 50-day simple moving average is $85.39 and its 200-day simple moving average is $87.10. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.57 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion for 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%. Equities research analysts anticipate that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Analyst Ratings Changes

Several brokerages have recently commented on WYNN. Mizuho increased their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Macquarie reissued an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research 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 stock from $105.00 to $118.00 in a research report on Tuesday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Buy” and an average target price of $120.58.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its stake in shares of Wynn Resorts by 40.3% in the third quarter. Vontobel Holding Ltd. now owns 8,718 shares of the casino operator’s stock worth $836,000 after buying an additional 2,505 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Wynn Resorts by 3.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,622 shares of the casino operator’s stock valued at $923,000 after acquiring an additional 302 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Wynn Resorts by 10.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,610 shares of the casino operator’s stock worth $250,000 after purchasing an additional 242 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Wynn Resorts by 16.2% in the third quarter. Raymond James & Associates now owns 123,006 shares of the casino operator’s stock valued at $11,794,000 after purchasing an additional 17,161 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.