Wynn Resorts, Limited (NASDAQ:WYNN) Sees Significant Decrease in Short Interest

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totaling 4,420,899 shares, a decrease of 20.2% from the December 31st total of 5,539,336 shares. Approximately 4.3% of the company’s shares are short sold. Based on an average trading volume of 1,140,354 shares, the short-interest ratio is presently 3.9 days. Based on an average trading volume of 1,140,354 shares, the short-interest ratio is presently 3.9 days. Approximately 4.3% of the company’s shares are short sold.

Institutional Trading of Wynn Resorts

Institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in Wynn Resorts in the third quarter valued at about $26,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Wynn Resorts during the third quarter valued at about $31,000. Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Wynn Resorts by 400.0% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on WYNN shares. Jefferies Financial Group boosted their price target on Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Barclays upped their target price on Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating and issued a $148.00 price objective on shares of Wynn Resorts in a report on Monday, December 15th. Finally, Wells Fargo & Company initiated coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.15.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $107.45 on Friday. The company has a market capitalization of $11.17 billion, a PE ratio of 24.04, a P/E/G ratio of 9.41 and a beta of 1.08. The company has a 50-day simple moving average of $121.44 and a two-hundred day simple moving average of $119.86. Wynn Resorts has a one year low of $65.25 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, equities analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s payout ratio is currently 22.37%.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.