Wynn Resorts (NASDAQ:WYNN) Reaches New 1-Year Low - Here's What Happened

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The stock traded as low as $66.35 and last traded at $67.04, with a volume of 1259278 shares changing hands. The stock had previously closed at $72.88.

Wall Street Analysts Forecast Growth

WYNN has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Barclays upped their price target on Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Stifel Nicolaus raised their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Mizuho lifted their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $119.58.

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Wynn Resorts Price Performance

The company has a 50-day moving average of $84.91 and a two-hundred day moving average of $89.21. The company has a market capitalization of $7.21 billion, a PE ratio of 16.14, a P/E/G ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio is currently 23.75%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta bought 5,025 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the purchase, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. This trade represents a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Philip G. Satre purchased 22,200 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 38,700 shares of company stock valued at $3,427,943 over the last ninety days. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $36,000. Spire Wealth Management grew its holdings in shares of Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Wynn Resorts in the fourth quarter worth $45,000. 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.