Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Update

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 5,840,000 shares, a decline of 22.2% from the February 13th total of 7,510,000 shares. Currently, 6.8% of the company’s stock are sold short. Based on an average trading volume of 2,420,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analyst Weigh In

WYNN has been the subject of several research analyst reports. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Wynn Resorts in a report on Friday, February 14th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Barclays upped their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Down 1.1 %

NASDAQ:WYNN opened at $85.43 on Wednesday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The stock’s 50-day moving average price is $85.56 and its 200-day moving average price is $88.86. The stock has a market capitalization of $9.09 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Sell-side analysts expect that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Wynn Resorts by 90.6% during the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after purchasing an additional 54,995 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $75,872,000. Empirical Asset Management LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $903,000. Cookson Peirce & Co. Inc. increased its position in shares of Wynn Resorts by 79.8% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock worth $2,915,000 after purchasing an additional 15,017 shares in the last quarter. Finally, ARGA Investment Management LP purchased a new stake in shares of Wynn Resorts during the third quarter worth approximately $2,174,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.