Short Interest in Wynn Resorts, Limited (NASDAQ:WYNN) Declines By 24.1%

Wynn Resorts, Limited (NASDAQ:WYNN) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 4,840,000 shares, a drop of 24.1% from the November 15th total of 6,380,000 shares. Based on an average daily volume of 2,960,000 shares, the short-interest ratio is presently 1.6 days. Currently, 5.5% of the shares of the company are sold short.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Wynn Resorts by 26.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,632 shares of the casino operator’s stock worth $683,000 after acquiring an additional 1,581 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Wynn Resorts during the second quarter valued at about $705,000. SteelPeak Wealth LLC bought a new position in shares of Wynn Resorts during the second quarter valued at about $214,000. Assenagon Asset Management S.A. purchased a new position in shares of Wynn Resorts in the second quarter worth about $7,133,000. Finally, Raymond James & Associates lifted its stake in shares of Wynn Resorts by 3.5% in the 2nd quarter. Raymond James & Associates now owns 105,845 shares of the casino operator’s stock valued at $9,473,000 after acquiring an additional 3,579 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the subject of several research reports. Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Price Performance

Shares of WYNN opened at $94.53 on Friday. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The company has a market capitalization of $10.38 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.42 and a beta of 1.78. The firm’s 50 day simple moving average is $94.99 and its 200 day simple moving average is $87.88.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data 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). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, equities analysts anticipate that Wynn Resorts will post 4.79 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.