Wynn Resorts (NASDAQ:WYNN) Reaches New 12-Month Low at $79.82

Wynn Resorts, Limited (NASDAQ:WYNN)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $79.82 and last traded at $79.89, with a volume of 921331 shares changing hands. The stock had previously closed at $82.82.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Morgan Stanley dropped their target price on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Citigroup increased their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Macquarie dropped their target price on shares of Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Wynn Resorts Price Performance

The firm’s 50-day moving average is $87.52 and its 200 day moving average is $95.39. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 10.52 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 5.62 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently modified their holdings of WYNN. Blue Trust Inc. increased its stake in Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares during the period. International Assets Investment Management LLC acquired a new position in Wynn Resorts during the 2nd quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new position in Wynn Resorts during the 4th quarter valued at about $27,000. Register Financial Advisors LLC acquired a new position in Wynn Resorts during the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC acquired a new position in Wynn Resorts during the 4th quarter valued at about $38,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

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.