Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Down 24.1% in November

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 4,840,000 shares, a drop 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 days-to-cover ratio is presently 1.6 days. Approximately 5.5% of the shares of the stock are sold short.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock traded up $1.06 during trading hours on Friday, hitting $94.53. The company's stock had a trading volume of 1,777,035 shares, compared to its average volume of 2,203,292. The company has a market cap of $10.38 billion, a PE ratio of 11.66, a PEG ratio of 3.48 and a beta of 1.78. The business has a 50 day moving average price of $94.99 and a two-hundred day moving average price of $87.88. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The company's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts anticipate that Wynn Resorts will post 4.79 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is presently 12.33%.

Insider Activity at Wynn Resorts

In other Wynn Resorts 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 transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company's stock, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of WYNN. IHT Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 1.7% in the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator's stock valued at $654,000 after acquiring an additional 112 shares during the last quarter. Fifth Third Bancorp grew its position in Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator's stock worth $137,000 after purchasing an additional 120 shares during the period. Allworth Financial LP raised its stake in shares of Wynn Resorts by 17.5% during the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after buying an additional 133 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Wynn Resorts by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator's stock valued at $496,000 after buying an additional 149 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in Wynn Resorts by 4.1% during the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator's stock worth $443,000 after acquiring an additional 181 shares during the period. Institutional investors own 88.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WYNN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Macquarie reaffirmed an "outperform" rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Susquehanna boosted their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a "positive" rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus lowered their target price on Wynn Resorts from $121.00 to $103.00 and set a "buy" rating for the company in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of "Moderate Buy" and a consensus price target of $115.71.

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.