Wynn Resorts (NASDAQ:WYNN) Sees Strong Trading Volume

Wynn Resorts, Limited (NASDAQ:WYNN) saw strong trading volume on Tuesday . 798,171 shares changed hands during trading, a decline of 59% from the previous session’s volume of 1,924,587 shares.The stock last traded at $84.26 and had previously closed at $80.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Morgan Stanley dropped their price target on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $113.73.

Wynn Resorts Stock Up 3.7 %

The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.04 and a beta of 1.80. The business’s fifty day moving average is $78.24 and its two-hundred day moving average is $89.45.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. ICA Group Wealth Management LLC purchased a new stake in Wynn Resorts in the 4th quarter valued at $27,000. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the 1st quarter valued at $37,000. Neo Ivy Capital Management purchased a new stake in Wynn Resorts in the 4th quarter valued at $40,000. Finally, Versant Capital Management Inc purchased a new stake in Wynn Resorts in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Company Profile

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.