Wynn Resorts, Limited (NASDAQ:WYNN)'s share price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $85.00, but opened at $83.15. Wynn Resorts shares last traded at $78.25, with a volume of 7,775,200 shares traded.
Specifically, CFO Craig Scott Billings sold 6,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $84.77, for a total transaction of $508,620.00. Following the sale, the chief financial officer now owns 84,287 shares of the company's stock, valued at approximately $7,145,008.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website
. Corporate insiders own 0.75% of the company's stock.
Several analysts have weighed in on the company. BidaskClub raised Wynn Resorts from a "sell" rating to a "hold" rating in a report on Thursday, April 9th. Zacks Investment Research cut 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. Deutsche Bank increased their price objective on Wynn Resorts from $72.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a research report on Monday, April 13th. Finally, Cfra upgraded Wynn Resorts from a "strong sell" rating to a "hold" rating and reduced their price objective for the company from $115.00 to $85.00 in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company's stock. The company currently has an average rating of "Buy" and a consensus target price of $112.38.
The company has a 50-day simple moving average of $74.59 and a two-hundred day simple moving average of $107.82. The company has a debt-to-equity ratio of 11.37, a quick ratio of 1.77 and a current ratio of 1.81. The firm has a market capitalization of $8.44 billion, a P/E ratio of -21.74 and a beta of 2.52.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share for the quarter, missing the 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 return on equity of 17.92% and a negative net margin of 6.49%. The business's quarterly revenue was down 42.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 EPS. As a group, research analysts forecast that Wynn Resorts, Limited will post -11.7 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. The Manufacturers Life Insurance Company increased its stake in Wynn Resorts by 16.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 106,010 shares of the casino operator's stock valued at $6,381,000 after purchasing an additional 14,597 shares in the last quarter. Samlyn Capital LLC bought a new stake in Wynn Resorts during the 1st quarter valued at about $15,747,000. FDx Advisors Inc. bought a new stake in Wynn Resorts during the 1st quarter valued at about $191,000. Cim Investment Mangement Inc. increased its stake in Wynn Resorts by 3.6% during the 1st quarter. Cim Investment Mangement Inc. now owns 3,690 shares of the casino operator's stock valued at $222,000 after purchasing an additional 129 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Wynn Resorts by 9.1% during the 1st quarter. HighTower Advisors LLC now owns 4,813 shares of the casino operator's stock valued at $289,000 after purchasing an additional 400 shares in the last quarter. 74.88% of the stock is currently owned by hedge funds and other institutional investors.
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.
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