Wynn Resorts (NASDAQ:WYNN) Trading 7.7% Higher


Share on StockTwits

Wynn Resorts, Limited (NASDAQ:WYNN)’s stock price traded up 7.7% during trading on Tuesday . The stock traded as high as $138.26 and last traded at $136.48. 7,010,504 shares traded hands during mid-day trading, an increase of 120% from the average session volume of 3,189,552 shares. The stock had previously closed at $126.75.

Several equities analysts have recently commented on the stock. Smith Barney Citigroup cut shares of Wynn Resorts from a “buy” rating to a “sell” rating in a research report on Thursday, January 7th. They noted that the move was a valuation call. Citigroup raised shares of Wynn Resorts from a “sell” rating to a “neutral” rating and lifted their price target for the company from $99.00 to $110.00 in a report on Friday, February 5th. The Goldman Sachs Group lifted their price target on shares of Wynn Resorts from $103.00 to $113.00 and gave the company a “neutral” rating in a report on Tuesday, January 26th. Zacks Investment Research raised shares of Wynn Resorts from a “sell” rating to a “hold” rating and set a $114.00 price target on the stock in a report on Friday, February 5th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of Wynn Resorts from a “buy” rating to a “sell” rating in a report on Thursday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Wynn Resorts has a consensus rating of “Hold” and a consensus price target of $99.67.

The company has a debt-to-equity ratio of 45.50, a quick ratio of 2.22 and a current ratio of 2.27. The stock has a market capitalization of $14.72 billion, a P/E ratio of -13.06 and a beta of 2.32. The stock’s fifty day simple moving average is $110.81 and its two-hundred day simple moving average is $94.09.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 4th. The casino operator reported ($2.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.22) by ($0.23). Wynn Resorts had a negative return on equity of 96.61% and a negative net margin of 25.71%. During the same quarter in the prior year, the business earned $0.86 EPS. As a group, analysts expect that Wynn Resorts, Limited will post -14.46 earnings per share for the current fiscal year.

In other news, CFO Craig Scott Billings sold 4,673 shares of the business’s stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $113.50, for a total value of $530,385.50. Following the transaction, the chief financial officer now owns 83,539 shares in the company, valued at approximately $9,481,676.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Mulroy sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $119.79, for a total transaction of $47,916.00. Following the completion of the transaction, the director now owns 6,897 shares in the company, valued at approximately $826,191.63. The disclosure for this sale can be found here. Insiders sold a total of 7,573 shares of company stock worth $848,627 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in shares of Wynn Resorts by 35.7% in the 4th quarter. Meeder Asset Management Inc. now owns 350 shares of the casino operator’s stock worth $39,000 after purchasing an additional 92 shares during the period. Manchester Financial Inc. lifted its position in shares of Wynn Resorts by 45.1% during the 4th quarter. Manchester Financial Inc. now owns 344 shares of the casino operator’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Sowell Financial Services LLC lifted its position in shares of Wynn Resorts by 22.6% during the 4th quarter. Sowell Financial Services LLC now owns 596 shares of the casino operator’s stock valued at $67,000 after acquiring an additional 110 shares during the period. Whittier Trust Co. lifted its position in shares of Wynn Resorts by 3.1% during the 4th quarter. Whittier Trust Co. now owns 3,840 shares of the casino operator’s stock valued at $433,000 after acquiring an additional 115 shares during the period. Finally, GFG Capital LLC lifted its position in shares of Wynn Resorts by 2.4% during the 4th quarter. GFG Capital LLC now owns 5,869 shares of the casino operator’s stock valued at $662,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 69.49% of the company’s stock.

About Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company's Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,011 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

Further Reading: Street Name

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.