Wynn Resorts, Limited (NASDAQ:WYNN) shares rose 6.3% during trading on Friday . The stock traded as high as $114.15 and last traded at $112.78, approximately 2,825,684 shares were traded during mid-day trading. An increase of 33% from the average daily volume of 2,123,518 shares. The stock had previously closed at $106.06.
WYNN has been the subject of several recent research reports. Nomura reduced their price target on Wynn Resorts from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. BidaskClub raised Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Saturday. Standpoint Research initiated coverage on Wynn Resorts in a research report on Wednesday, September 4th. They issued a “buy” rating for the company. Deutsche Bank set a $150.00 price target on Wynn Resorts and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Barclays reduced their price target on Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $137.13.
The company has a 50-day moving average of $109.91 and a 200-day moving average of $122.53. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.79 and a beta of 2.05. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.44. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company posted $1.53 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Wynn Resorts, Limited will post 5.92 EPS for the current year.
In related news, CEO Matt Maddox sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the transaction, the chief executive officer now directly owns 432,731 shares of the company’s stock, valued at approximately $47,704,265.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.
A number of large investors have recently made changes to their positions in WYNN. Point72 Hong Kong Ltd acquired a new position in Wynn Resorts during the 2nd quarter valued at about $31,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in Wynn Resorts during the 2nd quarter valued at about $35,000. Lenox Wealth Advisors LLC acquired a new position in Wynn Resorts during the 3rd quarter valued at about $35,000. Manchester Financial Inc. acquired a new position in Wynn Resorts during the 2nd quarter valued at about $36,000. Finally, Golden State Wealth Management LLC grew its stake in Wynn Resorts by 27.1% during the 2nd quarter. Golden State Wealth Management LLC now owns 479 shares of the casino operator’s stock valued at $59,000 after purchasing an additional 102 shares during the last quarter. 75.76% of the stock is currently owned by institutional investors.
About Wynn Resorts (NASDAQ:WYNN)
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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