Wynn Resorts (NASDAQ:WYNN) Stock Price Up 7.5%

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Wynn Resorts, Limited (NASDAQ:WYNN)’s stock price rose 7.5% during trading on Monday . The stock traded as high as $74.23 and last traded at $74.22, approximately 7,029,464 shares traded hands during mid-day trading. An increase of 26% from the average daily volume of 5,557,024 shares. The stock had previously closed at $69.05.

WYNN has been the topic of several recent research reports. Zacks Investment Research lowered shares of Wynn Resorts from a “hold” rating to a “sell” rating and set a $65.00 price target on the stock. in a report on Saturday, April 11th. ValuEngine raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Tuesday, April 7th. UBS Group upped their price target on shares of Wynn Resorts from $77.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, June 5th. BidaskClub lowered shares of Wynn Resorts from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Finally, Deutsche Bank increased their target price on shares of Wynn Resorts from $72.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Wynn Resorts currently has an average rating of “Buy” and a consensus price target of $110.56.

The stock has a market capitalization of $8.01 billion, a PE ratio of -20.69 and a beta of 2.48. The stock’s 50 day moving average is $85.21 and its two-hundred day moving average is $101.08. The company has a debt-to-equity ratio of 11.37, a quick ratio of 1.77 and a current ratio of 1.81.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($2.49). The company had revenue of $953.70 million during the quarter, compared to analysts’ expectations of $887.81 million. Wynn Resorts had a negative net margin of 6.49% and a negative return on equity of 17.92%. The company’s quarterly revenue was down 42.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 earnings per share. Equities research analysts expect that Wynn Resorts, Limited will post -11.69 EPS for the current fiscal year.

In other Wynn Resorts news, CFO Craig Scott Billings sold 6,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $84.77, for a total value of $508,620.00. Following the completion of the sale, the chief financial officer now owns 84,287 shares in the company, valued at approximately $7,145,008.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in WYNN. Parallel Advisors LLC raised its holdings in Wynn Resorts by 84.0% in the 1st quarter. Parallel Advisors LLC now owns 447 shares of the casino operator’s stock valued at $26,000 after acquiring an additional 204 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in Wynn Resorts by 1,384.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 475 shares of the casino operator’s stock valued at $29,000 after acquiring an additional 443 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in Wynn Resorts in the 1st quarter valued at about $32,000. Key Financial Inc acquired a new stake in Wynn Resorts in the 1st quarter valued at about $37,000. Finally, Procyon Private Wealth Partners LLC increased its holdings in shares of Wynn Resorts by 109.0% during the 1st quarter. Procyon Private Wealth Partners LLC now owns 627 shares of the casino operator’s stock worth $38,000 after buying an additional 327 shares during the last quarter. Institutional investors own 74.88% of the company’s stock.

Wynn Resorts Company Profile (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.

Further Reading: What is the return on assets (ROA) ratio?

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