Wynn Resorts, Limited (NASDAQ:WYNN) Sees Significant Decline in Short Interest

Wynn Resorts, Limited (NASDAQ:WYNN) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 4,420,899 shares, a drop of 20.2% from the December 31st total of 5,539,336 shares. Based on an average trading volume of 1,140,354 shares, the days-to-cover ratio is currently 3.9 days. Currently, 4.3% of the shares of the company are short sold. Currently, 4.3% of the shares of the company are short sold. Based on an average trading volume of 1,140,354 shares, the days-to-cover ratio is currently 3.9 days.

Institutional Trading of Wynn Resorts

Several large investors have recently modified their holdings of the business. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in Wynn Resorts during the third quarter worth $26,000. Manchester Capital Management LLC raised its holdings in shares of Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. MTM Investment Management LLC purchased a new stake in shares of Wynn Resorts in the second quarter valued at $31,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Wynn Resorts during the third quarter valued at $31,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group upped their price target on Wynn Resorts from $147.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $132.00 to $139.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Mizuho raised their target price on shares of Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Finally, Zacks Research cut shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.15.

Wynn Resorts Trading Up 1.6%

Shares of Wynn Resorts stock opened at $109.18 on Tuesday. The company has a 50-day moving average of $121.16 and a two-hundred day moving average of $119.92. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $134.72. The stock has a market cap of $11.35 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 9.28 and a beta of 1.06.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the firm earned $0.90 EPS. Wynn Resorts’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.