Wynn Resorts, Limited (NASDAQ:WYNN) Sees Large Decrease in Short Interest

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 4,840,000 shares, a decrease of 24.1% from the November 15th total of 6,380,000 shares. Based on an average trading volume of 2,960,000 shares, the short-interest ratio is currently 1.6 days. Approximately 5.5% of the company’s stock are short sold.

Wynn Resorts Stock Performance

Shares of WYNN stock 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 business’s fifty day moving average is $94.99 and its 200-day moving average is $87.84. The stock has a market cap of $10.38 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. Equities research analysts predict that Wynn Resorts will post 4.79 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

Analysts Set New Price Targets

WYNN has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price objective on shares of 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 stock an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays dropped their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.71.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’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 completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

A number of large investors have recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the third quarter valued at $31,000. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the period. Allworth Financial LP increased its stake in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after buying an additional 900 shares during the period. 88.64% of the stock is currently owned by institutional investors.

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.