Wynn Macau (OTCMKTS:WYNMY) Shares Gap Down - Should You Sell?

Key Points

• Wynn Macau shares experienced a significant drop, gapping down from a previous close of $8.56 to an opening price of $7.99.
• Analysts at UBS Group downgraded Wynn Macau's rating from "hold" to "strong sell," signaling a bearish outlook for the stock.
• The company declared an increased dividend of $0.2015, up from $0.08, resulting in a remarkable dividend yield of 420.0%.

Shares of Wynn Macau, Limited - Unsponsored ADR (OTCMKTS:WYNMY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $8.56, but opened at $7.99. Wynn Macau shares last traded at $7.97, with a volume of 48,712 shares.

Wall Street Analyst Weigh In

Separately, UBS Group lowered shares of Wynn Macau from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 30th.

Wynn Macau Stock Performance

The stock's 50-day moving average is $7.55 and its 200-day moving average is $7.11.

Wynn Macau Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, May 29th were given a dividend of $0.2015 per share. This represents a yield of 420.0%. This is an increase from Wynn Macau's previous dividend of $0.08. The ex-dividend date of this dividend was Wednesday, May 28th.

Wynn Macau Company Profile

Wynn Macau, Limited, through its subsidiaries, engages in the development, ownership, and operation of integrated destination casino resorts in Macau. The company's Wynn Palace resort features approximately 468,000 square feet of casino space providing 24-hour gaming and various games comprising private gaming salons and sky casinos; a luxury hotel with guest rooms, suites, and villas; and food and beverage outlets.