Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 7,510,000 shares, a growth of 28.6% from the January 31st total of 5,840,000 shares. Based on an average trading volume of 2,420,000 shares, the short-interest ratio is presently 3.1 days. Currently, 8.8% of the company's stock are sold short.
In related news, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.52% of the company's stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts in the 4th quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Wynn Resorts during the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts in the 4th quarter worth approximately $36,000. Spire Wealth Management boosted its holdings in shares of Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after buying an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts during the fourth quarter valued at approximately $45,000. 88.64% of the stock is owned by institutional investors.
WYNN has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and boosted their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Finally, Barclays raised their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $119.58.
View Our Latest Analysis on Wynn Resorts
NASDAQ:WYNN opened at $88.93 on Tuesday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a fifty day moving average of $85.37 and a 200 day moving average of $88.05.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Equities analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.
The business 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 $0.25 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Wynn Resorts's payout ratio is currently 23.75%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Wynn Resorts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wynn Resorts wasn't on the list.
While Wynn Resorts currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.