Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Up 23.4% in January
Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 5,490,000 shares, an increase of 23.4% from the January 15th total of 4,450,000 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average trading volume of 2,025,400 shares, the short-interest ratio is currently 2.7 days.
WYNN has been the topic of a number of recent analyst reports. Bank of America upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday. Citigroup cut Wynn Resorts from a “buy” rating to a “neutral” rating and set a $140.00 price target on the stock. in a report on Wednesday, January 8th. Deutsche Bank boosted their price target on Wynn Resorts from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on Wynn Resorts from $136.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, BidaskClub cut Wynn Resorts from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $144.25.
NASDAQ:WYNN opened at $133.62 on Friday. The stock’s 50-day moving average is $137.81 and its 200-day moving average is $122.43. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 5.75. The stock has a market cap of $14.34 billion, a P/E ratio of 116.19, a price-to-earnings-growth ratio of 3.78 and a beta of 2.13. Wynn Resorts has a 1-year low of $102.03 and a 1-year high of $153.41.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Wednesday, February 26th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, February 25th. Wynn Resorts’s dividend payout ratio is currently 153.26%.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of Wynn Resorts stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $120.18, for a total value of $3,004,500.00. Following the transaction, the chief executive officer now owns 368,651 shares in the company, valued at $44,304,477.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Craig Scott Billings sold 3,750 shares of Wynn Resorts stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $119.85, for a total value of $449,437.50. Following the completion of the transaction, the chief financial officer now owns 66,451 shares in the company, valued at approximately $7,964,152.35. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its stake in Wynn Resorts by 1.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,340,416 shares of the casino operator’s stock valued at $186,144,000 after buying an additional 13,059 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Wynn Resorts by 11.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 106,430 shares of the casino operator’s stock valued at $14,780,000 after buying an additional 10,886 shares during the period. Dai Ichi Life Insurance Company Ltd lifted its stake in Wynn Resorts by 1.0% in the fourth quarter. Dai Ichi Life Insurance Company Ltd now owns 10,294 shares of the casino operator’s stock valued at $1,430,000 after buying an additional 102 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in Wynn Resorts in the fourth quarter valued at approximately $501,000. Finally, Amalgamated Bank lifted its stake in Wynn Resorts by 4.6% in the fourth quarter. Amalgamated Bank now owns 16,443 shares of the casino operator’s stock valued at $2,283,000 after buying an additional 724 shares during the period. 72.65% of the stock is currently owned by institutional investors.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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