Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Up 28.6% in February

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,510,000 shares, a growth of 28.6% from the January 31st total of 5,840,000 shares. Currently, 8.8% of the shares of the company are sold short. Based on an average daily volume of 2,420,000 shares, the days-to-cover ratio is currently 3.1 days.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired 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 trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of the stock. Fisher Asset Management LLC boosted its stake in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after acquiring an additional 485,204 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Wynn Resorts by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock worth $209,120,000 after acquiring an additional 26,792 shares in the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock worth $145,059,000 after acquiring an additional 139,270 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Wynn Resorts by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock worth $139,300,000 after acquiring an additional 228,000 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $90.67 on Thursday. The stock has a fifty day moving average price of $85.34 and a two-hundred day moving average price of $88.13. The firm has a market cap of $9.65 billion, a P/E ratio of 21.54, a PEG ratio of 2.35 and a beta of 1.76. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

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, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Analyst Ratings Changes

A number of analysts have recently weighed in on WYNN shares. Barclays increased their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley dropped their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Stifel Nicolaus raised their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

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.