Wynn Resorts Ltd. (NASDAQ:WYNN) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 10,043,606 shares, a drop of 15.8% from the September 15th total of 11,924,241 shares. Based on an average daily trading volume, of 3,904,982 shares, the short-interest ratio is presently 2.6 days. Approximately 12.6% of the shares of the stock are short sold.
Shares of Wynn Resorts (NASDAQ:WYNN) opened at 92.98 on Wednesday. Wynn Resorts has a 52-week low of $49.95 and a 52-week high of $109.50. The company has a market capitalization of $9.43 billion, a PE ratio of 28.77 and a beta of 1.85. The firm’s 50-day moving average price is $98.58 and its 200 day moving average price is $96.35.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, equities analysts forecast that Wynn Resorts will post $3.77 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in WYNN. Vanguard Group Inc. boosted its stake in shares of Wynn Resorts by 3.8% in the second quarter. Vanguard Group Inc. now owns 7,392,996 shares of the casino operator’s stock valued at $670,102,000 after buying an additional 273,781 shares in the last quarter. State Street Corp boosted its stake in shares of Wynn Resorts by 1.4% in the first quarter. State Street Corp now owns 3,250,046 shares of the casino operator’s stock valued at $303,645,000 after buying an additional 44,681 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Wynn Resorts by 0.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,061,800 shares of the casino operator’s stock valued at $186,882,000 after buying an additional 7,577 shares in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Wynn Resorts by 2.6% in the second quarter. BlackRock Fund Advisors now owns 1,246,821 shares of the casino operator’s stock valued at $113,012,000 after buying an additional 31,599 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in shares of Wynn Resorts by 81.7% in the second quarter. Thornburg Investment Management Inc. now owns 874,764 shares of the casino operator’s stock valued at $79,289,000 after buying an additional 393,277 shares in the last quarter. Hedge funds and other institutional investors own 74.57% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating on shares of Wynn Resorts in a research report on Friday, September 16th. Credit Agricole SA set a $97.00 price objective on Wynn Resorts and gave the stock a “sell” rating in a research report on Monday, September 19th. Telsey Advisory Group increased their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Nomura downgraded Wynn Resorts from a “neutral” rating to a “reduce” rating and increased their price objective for the stock from $78.00 to $83.00 in a research report on Friday, July 29th. Finally, Vetr downgraded Wynn Resorts from a “buy” rating to a “hold” rating and set a $103.36 price target on the stock. in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Wynn Resorts has a consensus rating of “Buy” and an average price target of $103.60.
About Wynn Resorts
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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