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

Wynn Resorts, Limited (NASDAQ:WYNN) shares 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $132.00 to $131.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company decreased their target price on Wynn Resorts from $128.00 to $126.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Stifel Nicolaus raised their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, July 18th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Wynn Resorts Price Performance

The company has a market cap of $8.61 billion, a P/E ratio of 10.52 and a beta of 1.82. The company has a 50 day moving average of $87.52 and a 200-day moving average of $95.39.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. Research analysts anticipate that Wynn Resorts, Limited will post 5.62 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared 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. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is currently 13.70%.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WYNN. Nisa Investment Advisors LLC grew its holdings in shares of Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after acquiring an additional 109 shares during the period. Fifth Third Bancorp grew its holdings in shares of Wynn Resorts by 8.5% during the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock worth $145,000 after acquiring an additional 111 shares during the period. Empirical Finance LLC grew its holdings in shares of Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after acquiring an additional 114 shares during the period. EntryPoint Capital LLC grew its holdings in shares of Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after acquiring an additional 117 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Wynn Resorts by 47.5% during the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.