Wynn Resorts Ltd. (WYNN) Short Interest Update
Wynn Resorts Ltd. (NASDAQ:WYNN) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 10,043,606 shares, a decline of 15.8% from the September 15th total of 11,924,241 shares. Based on an average daily trading volume, of 3,904,982 shares, the days-to-cover ratio is presently 2.6 days. Currently, 12.6% of the company’s shares are short sold.
Hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its stake in Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock worth $100,000 after buying an additional 327 shares in the last quarter. TLP Group LLC bought a new position in shares of Wynn Resorts during the second quarter valued at $114,000. Mizuho Asset Management Co. Ltd. boosted its position in shares of Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock valued at $115,000 after buying an additional 808 shares during the period. Advisory Services Network LLC boosted its position in shares of Wynn Resorts by 171.8% in the third quarter. Advisory Services Network LLC now owns 1,582 shares of the casino operator’s stock valued at $154,000 after buying an additional 1,000 shares during the period. Finally, Krilogy Financial LLC boosted its position in shares of Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock valued at $161,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.
A number of equities research analysts have recently commented on the stock. Vetr upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 price target for the company in a report on Monday, August 1st. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a report on Friday, September 16th. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Monday, August 1st. JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, Credit Agricole SA restated an “underperform” rating and issued a $97.00 target price on shares of Wynn Resorts in a report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Wynn Resorts presently has a consensus rating of “Buy” and a consensus price target of $101.85.
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Shares of Wynn Resorts (NASDAQ:WYNN) opened at 94.95 on Friday. Wynn Resorts has a 52-week low of $49.95 and a 52-week high of $109.50. The company has a market capitalization of $9.63 billion, a P/E ratio of 29.38 and a beta of 1.85. The stock’s 50 day moving average price is $98.34 and its 200-day moving average price is $96.33.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.16. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. Wynn Resorts’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, equities analysts expect that Wynn Resorts will post $3.77 earnings per share for the current year.
About Wynn Resorts
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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