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

Wynn Resorts, Limited (NASDAQ:WYNN) Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was bought 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 owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wynn Resorts Trading Up 1.3 %

WYNN stock opened at $93.47 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a 50-day moving average price of $85.39 and a 200 day moving average price of $87.14. The stock has a market cap of $9.95 billion, a PE ratio of 22.20, a P/E/G ratio of 2.64 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Sell-side analysts forecast that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WYNN shares. Barclays lifted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Mizuho lifted their price target on shares of 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 reduced their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $120.58.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after buying an additional 485,204 shares during the period. Geode Capital Management LLC boosted its position in Wynn Resorts by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock valued at $209,120,000 after buying an additional 26,792 shares during the period. Jefferies Financial Group Inc. boosted its position in Wynn Resorts by 9.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock valued at $145,059,000 after buying an additional 139,270 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Wynn Resorts by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after buying an additional 228,000 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.