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

by · The Cerbat Gem

Wynn Resorts, Limited (NASDAQ:WYNN – Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 6,550,000 shares, an increase of 30.2% from the September 15th total of 5,030,000 shares. Based on an average trading volume of 2,800,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 7.0% of the shares of the company are short sold.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the period. Fisher Asset Management LLC raised its position in shares of Wynn Resorts by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock worth $357,883,000 after buying an additional 16,799 shares during the period. Renaissance Technologies LLC boosted its holdings in Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Janus Henderson Group PLC grew its position in Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares during the period. Finally, Bamco Inc. NY increased its stake in Wynn Resorts by 5.1% during the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after acquiring an additional 38,160 shares during the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

NASDAQ WYNN traded down $4.26 during mid-day trading on Tuesday, reaching $99.69. 1,171,103 shares of the stock were exchanged, compared to its average volume of 2,124,048. The business’s fifty day simple moving average is $83.53 and its 200 day simple moving average is $89.29. The stock has a market capitalization of $11.17 billion, a PE ratio of 14.24, a PEG ratio of 2.67 and a beta of 1.81. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. On average, analysts anticipate that Wynn Resorts 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. Stockholders of record on Monday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Susquehanna boosted 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. Wells Fargo & Company lowered 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. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Morgan Stanley upped their price target on Wynn Resorts from $104.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Stifel Nicolaus reduced their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $115.20.

Read Our Latest Stock Analysis on Wynn Resorts

About Wynn Resorts

(Get Free Report)

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.

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