Wynn Resorts (NASDAQ:WYNN) Stock Price Down 4.2% – Should You Sell?

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) fell 4.2% during mid-day trading on Wednesday . The stock traded as low as $84.08 and last traded at $83.69. 250,999 shares changed hands during trading, a decline of 91% from the average session volume of 2,646,305 shares. The stock had previously closed at $87.38.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WYNN. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Barclays boosted their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Trading Down 2.9 %

The firm has a market cap of $9.03 billion, a PE ratio of 20.12, a PEG ratio of 2.35 and a beta of 1.77. The firm’s 50 day simple moving average is $85.43 and its 200 day simple moving average is $88.54.

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

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is 23.75%.

Insider Activity

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in Wynn Resorts during the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the 4th quarter valued at about $36,000. Spire Wealth Management grew its holdings in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts in the 4th quarter worth about $45,000. 88.64% of the stock is currently owned by institutional investors.

About Wynn Resorts

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.