Wynn Resorts (NASDAQ:WYNN) Stock Price Down 4.2% – What’s Next?

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) were down 4.2% during trading on Wednesday . The company traded as low as $84.08 and last traded at $83.69. Approximately 250,999 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,646,305 shares. The stock had previously closed at $87.38.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WYNN shares. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday. Macquarie restated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho upped their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Barclays increased their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Morgan Stanley dropped their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Wynn Resorts Stock Down 2.9 %

The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 2.35 and a beta of 1.77. The business’s 50-day moving average is $85.43 and its 200-day moving average is $88.54.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. Wynn Resorts’s payout ratio is 23.75%.

Insider Buying and Selling at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Regal Partners Ltd boosted its position in Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares during the last quarter. Wellington Management Group LLP boosted its position in Wynn Resorts by 90.6% during the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after acquiring an additional 54,995 shares during the last quarter. Crystal Rock Capital Management acquired a new position in Wynn Resorts during the third quarter worth about $719,000. Empirical Asset Management LLC acquired a new position in Wynn Resorts during the fourth quarter worth about $903,000. Finally, Cookson Peirce & Co. Inc. boosted its holdings in Wynn Resorts by 79.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 33,828 shares of the casino operator’s stock valued at $2,915,000 after purchasing an additional 15,017 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.