Wynn Resorts (NASDAQ:WYNN) Sees Strong Trading Volume

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) saw an uptick in trading volume on Tuesday . 798,171 shares were traded during trading, a decline of 59% from the previous session’s volume of 1,924,587 shares.The stock last traded at $84.26 and had previously closed at $80.21.

Wall Street Analyst Weigh In

Several analysts have weighed in on WYNN shares. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company dropped their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley dropped their target price on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Wynn Resorts Price Performance

The stock’s fifty day moving average is $78.24 and its 200-day moving average is $89.45. The stock has a market capitalization of $9.32 billion, a PE ratio of 10.99, a P/E/G ratio of 2.04 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 earnings per share. On average, analysts forecast that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of WYNN. PNC Financial Services Group Inc. lifted its stake in shares of Wynn Resorts by 3.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,192 shares of the casino operator’s stock worth $929,000 after buying an additional 336 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Wynn Resorts in the fourth quarter worth about $234,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Wynn Resorts by 15.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 20,669 shares of the casino operator’s stock worth $1,883,000 after buying an additional 2,707 shares in the last quarter. Commerce Bank lifted its stake in shares of Wynn Resorts by 38.9% in the fourth quarter. Commerce Bank now owns 13,332 shares of the casino operator’s stock worth $1,215,000 after buying an additional 3,735 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in Wynn Resorts by 285.4% during the fourth quarter. Advisory Services Network LLC now owns 5,885 shares of the casino operator’s stock worth $536,000 after purchasing an additional 4,358 shares during the period. 68.87% 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.