Insider Selling: Linda Chen Unloads 20,000 Shares of Wynn Resorts Stock (WYNN)
Wynn Resorts (NASDAQ:WYNN) Insider Linda Chen unloaded 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $226.00, for a total transaction of $4,520,000.00. Following the transaction, the insider now directly owns 104,600 shares of the company’s stock, valued at approximately $23,639,600. 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 Zacks upgraded shares of Wynn Resorts from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 11th. They now have a $267.00 price target on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Wynn Resorts from $212.00 to $227.00 in a research note on Monday, February 3rd. Finally, analysts at Goldman Sachs raised their price target on shares of Wynn Resorts from $238.00 to $250.00 in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $200.73.
Shares of Wynn Resorts (NASDAQ:WYNN) traded up 2.17% on Friday, hitting $228.35. The stock had a trading volume of 1,791,290 shares. Wynn Resorts has a one year low of $113.39 and a one year high of $228.75. The stock’s 50-day moving average is $210.5 and its 200-day moving average is $173.. The company has a market cap of $23.006 billion and a price-to-earnings ratio of 31.17.
Wynn Resorts (NASDAQ:WYNN) last released its earnings data on Thursday, January 30th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Wynn Resorts will post $8.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 27th. Shareholders of record on Thursday, February 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, February 11th. This is a positive change 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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