Wynn Resorts (NASDAQ:WYNN) Director Patricia Mulroy Sells 4,438 Shares

Key Points

• Patricia Mulroy, a director at Wynn Resorts, sold 4,438 shares of the company's stock at an average price of $125.00, resulting in a total value of $554,750 and a 59.14% decrease in her ownership.
• Wynn Resorts reported $1.09 earnings per share (EPS) in its last quarter, missing estimates by $0.11, and had a quarterly revenue of $1.74 billion.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.8% with a payout ratio of 30.03%.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wynn Resorts Price Performance

Shares of WYNN stock traded up $0.05 during trading hours on Wednesday, hitting $125.52. The stock had a trading volume of 1,407,948 shares, compared to its average volume of 2,146,076. Wynn Resorts, Limited has a one year low of $65.25 and a one year high of $128.53. The stock's 50-day moving average price is $110.49 and its two-hundred day moving average price is $93.87. The stock has a market capitalization of $13.05 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 6.76 and a beta of 1.37.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm posted $1.12 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts predict 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 Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's payout ratio is presently 30.03%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WYNN shares. Mizuho boosted their price objective on Wynn Resorts from $122.00 to $126.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Bank of America raised Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Wednesday, May 7th. Macquarie boosted their price objective on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group boosted their target price on Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Monday, August 11th. Finally, The Goldman Sachs Group started coverage on Wynn Resorts in a research report on Monday, July 7th. They set a "buy" rating and a $122.00 target price for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $123.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its stake in Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator's stock worth $70,138,000 after purchasing an additional 737,234 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in Wynn Resorts by 1,848.5% in the second quarter. Hudson Bay Capital Management LP now owns 83,982 shares of the casino operator's stock worth $7,867,000 after purchasing an additional 79,672 shares in the last quarter. Nomura Holdings Inc. grew its stake in Wynn Resorts by 2.6% in the second quarter. Nomura Holdings Inc. now owns 15,811 shares of the casino operator's stock worth $1,481,000 after purchasing an additional 395 shares in the last quarter. Hollencrest Capital Management grew its stake in Wynn Resorts by 18.3% in the second quarter. Hollencrest Capital Management now owns 1,537 shares of the casino operator's stock worth $144,000 after purchasing an additional 238 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Wynn Resorts by 55.5% during the second quarter. Public Sector Pension Investment Board now owns 18,157 shares of the casino operator's stock worth $1,701,000 after buying an additional 6,481 shares during the period. Institutional investors 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.

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