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

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) saw 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. Based on an average daily trading volume, of 2,420,000 shares, the short-interest ratio is currently 2.4 days. Approximately 6.8% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Macquarie reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Morgan Stanley cut their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Monday, February 24th. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and increased their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus increased their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $119.58.

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Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. Fisher Asset Management LLC lifted its position in shares of Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Norges Bank purchased a new position in shares of Wynn Resorts in the fourth quarter valued at about $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at about $101,375,000. Raymond James Financial Inc. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at about $75,872,000. Finally, Holocene Advisors LP lifted its position in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator's stock valued at $72,672,000 after acquiring an additional 755,236 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Down 2.3 %

NASDAQ WYNN traded down $1.98 on Thursday, hitting $83.07. 1,790,201 shares of the company traded hands, compared to its average volume of 2,267,053. The business's 50 day moving average price is $85.64 and its 200-day moving average price is $88.83. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, sell-side analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Wynn Resorts's payout ratio is 23.75%.

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.