Wynn Resorts (NASDAQ:WYNN) Sees Large Volume Increase

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) saw strong trading volume on Tuesday . 798,171 shares traded hands during mid-day trading, a decline of 59% from the previous session's volume of 1,924,587 shares.The stock last traded at $84.26 and had previously closed at $80.21.

Analyst Ratings Changes

Several brokerages have weighed in on WYNN. Morgan Stanley dropped their price target on shares of Wynn Resorts from $107.00 to $97.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 4th. Macquarie reiterated an "outperform" rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Jefferies Financial Group reduced their price target on Wynn Resorts from $111.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. dropped their price objective on Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their target price on Wynn Resorts from $126.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of "Moderate Buy" and an average target price of $113.73.

Wynn Resorts Stock Performance

The business's 50-day moving average is $78.24 and its 200-day moving average is $89.45. The company has a market capitalization of $9.43 billion, a PE ratio of 10.99, a PEG ratio of 2.04 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts expect that Wynn Resorts, Limited will post 5.44 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts's dividend payout ratio (DPR) is 13.70%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazari Capital Management Inc. raised its position in Wynn Resorts by 26.4% in the 2nd quarter. Lazari Capital Management Inc. now owns 12,796 shares of the casino operator's stock worth $1,145,000 after buying an additional 2,676 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Wynn Resorts during the second quarter valued at approximately $694,000. Cetera Investment Advisers lifted its position in Wynn Resorts by 10.6% during the second quarter. Cetera Investment Advisers now owns 28,744 shares of the casino operator's stock valued at $2,573,000 after purchasing an additional 2,764 shares during the period. Truist Financial Corp boosted its holdings in Wynn Resorts by 43.7% in the second quarter. Truist Financial Corp now owns 22,057 shares of the casino operator's stock worth $1,974,000 after purchasing an additional 6,711 shares during the last quarter. Finally, Quarry LP grew its position in Wynn Resorts by 247.1% in the 2nd quarter. Quarry LP now owns 2,034 shares of the casino operator's stock worth $182,000 after purchasing an additional 1,448 shares during the period. 68.87% of the stock is owned by institutional investors.

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.