Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Update

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 5,840,000 shares, a drop of 22.2% from the February 13th total of 7,510,000 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average trading volume of 2,420,000 shares, the days-to-cover ratio is presently 2.4 days.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $86.42 on Tuesday. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The business has a 50-day moving average of $85.50 and a two-hundred day moving average of $88.80. The stock has a market capitalization of $9.20 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.35 and a beta of 1.77.

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

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the firm’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 transaction, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in the business. PKO Investment Management Joint Stock Co acquired a new position in shares of Wynn Resorts during the 4th quarter worth about $948,000. Siemens Fonds Invest GmbH acquired a new position in shares of Wynn Resorts during the 4th quarter worth about $115,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Wynn Resorts during the 4th quarter worth about $1,361,000. Heck Capital Advisors LLC acquired a new position in shares of Wynn Resorts during the 4th quarter worth about $386,000. Finally, Mackenzie Financial Corp acquired a new position in Wynn Resorts in the 4th quarter valued at approximately $282,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Analysts Set New Price Targets

WYNN has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Barclays raised their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Finally, Mizuho lifted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

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.