Wynn Resorts (NASDAQ:WYNN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) saw unusually-strong trading volume on Thursday . Approximately 2,047,653 shares changed hands during trading, a decline of 6% from the previous session’s volume of 2,185,648 shares.The stock last traded at $92.07 and had previously closed at $85.80.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WYNN shares. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus decreased their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley increased their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Macquarie reiterated an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Performance

The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 3.08 and a beta of 1.80. The firm’s 50 day moving average is $91.52 and its 200-day moving average is $88.27.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business earned $0.99 earnings per share. Wynn Resorts’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a yield of 1.07%. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in Wynn Resorts during the second quarter worth about $25,000. Blue Trust Inc. boosted its holdings in Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Wynn Resorts in the second quarter valued at approximately $51,000. Covestor Ltd raised its stake in shares of Wynn Resorts by 421.7% in the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after acquiring an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares during the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

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.