Insider Selling: Wynn Resorts Insider Sells 20,000 Shares of Stock (WYNN)
Wynn Resorts (NASDAQ:WYNN) Insider Linda Chen sold 20,000 shares of the stock on the open market in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $219.00, for a total value of $4,380,000.00. Following the sale, the insider now directly owns 124,600 shares of the company’s stock, valued at approximately $27,287,400. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on WYNN. Analysts at Morgan Stanley raised their price target on shares of Wynn Resorts from $212.00 to $227.00 in a research note to investors on Monday, February 3rd. Separately, analysts at Goldman Sachs raised their price target on shares of Wynn Resorts from $238.00 to $250.00 in a research note to investors on Monday, February 3rd. Finally, analysts at FBR Capital Markets reiterated a “hold” rating on shares of Wynn Resorts in a research note to investors on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $196.18.
Shares of Wynn Resorts (NASDAQ:WYNN) traded up 0.19% on Monday, hitting $222.37. 1,905,153 shares of the company’s stock traded hands. Wynn Resorts has a 52-week low of $113.39 and a 52-week high of $224.62. The stock’s 50-day moving average is $203.4 and its 200-day moving average is $168.6. The company has a market cap of $22.403 billion and a P/E ratio of 30.96.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, January 30th. The company reported $2.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.75 by $0.52. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. On average, analysts predict that Wynn Resorts will post $8.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, February 11th. This is an increase from Wynn Resorts’s previous quarterly dividend of $1.00.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino resorts.
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