Short Interest in Wynn Resorts, Limited (NASDAQ:WYNN) Declines By 24.1%

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 4,840,000 shares, a drop of 24.1% from the November 15th total of 6,380,000 shares. Based on an average daily trading volume, of 2,960,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 5.5% of the shares of the stock are short sold.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $93.47 on Friday. The stock has a market capitalization of $10.26 billion, a P/E ratio of 11.53, a P/E/G ratio of 3.47 and a beta of 1.78. The business has a 50-day moving average of $95.21 and a two-hundred day moving average of $87.88. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, research analysts expect that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.07%. Wynn Resorts’s payout ratio is presently 12.33%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WYNN. Regal Partners Ltd increased its position in shares of Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares during the period. Crystal Rock Capital Management bought a new stake in Wynn Resorts in the 3rd quarter valued at $719,000. MBB Public Markets I LLC acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $698,000. APG Asset Management N.V. grew its stake in shares of Wynn Resorts by 231.0% in the 2nd quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock valued at $933,000 after purchasing an additional 7,800 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Wynn Resorts during the 2nd quarter worth about $7,133,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WYNN has been the topic of a number of analyst reports. Morgan Stanley lifted their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Susquehanna lifted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $115.71.

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.