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

Wynn Resorts, Limited (NASDAQ:WYNN) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,840,000 shares, a drop of 22.2% from the February 13th total of 7,510,000 shares. Approximately 6.8% of the shares of the company are short sold. Based on an average daily trading volume, of 2,420,000 shares, the short-interest ratio is presently 2.4 days.

Insiders Place Their Bets

In other news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently modified their holdings of WYNN. Principal Financial Group Inc. increased its position in shares of Wynn Resorts by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock valued at $10,361,000 after purchasing an additional 2,001 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Wynn Resorts by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock worth $18,098,000 after acquiring an additional 7,850 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Wynn Resorts by 7.7% during the 3rd quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator’s stock worth $1,366,000 after acquiring an additional 1,017 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Wynn Resorts by 49.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after acquiring an additional 3,850 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Wynn Resorts by 4.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after acquiring an additional 181 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

WYNN opened at $86.42 on Tuesday. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The stock has a market cap of $9.20 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.35 and a beta of 1.77. The stock’s 50 day moving average price is $85.50 and its 200 day moving average price is $88.80.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Equities analysts anticipate that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared 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 1.16%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Analyst Ratings Changes

WYNN has been the topic of a number of research analyst reports. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Barclays raised their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, StockNews.com downgraded 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 issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target 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.