Wynn Macau (OTCMKTS:WYNMY) Stock Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Wynn Macau's stock price has risen above its fifty-day moving average, reaching a high of $8.27 while last trading at $8.00.
• UBS Group downgraded Wynn Macau from a "hold" to a "strong sell" rating, indicating a negative outlook on the stock.
• The company declared a dividend of $0.2015 per share, significantly increasing from the previous $0.08, resulting in a dividend yield of 420.0%.

Wynn Macau, Limited - Unsponsored ADR (OTCMKTS:WYNMY - Get Free Report) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.55 and traded as high as $8.27. Wynn Macau shares last traded at $8.00, with a volume of 77,757 shares.

Analyst Upgrades and Downgrades

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

Wynn Macau Stock Performance

The business's 50 day moving average is $7.55 and its two-hundred day moving average is $7.11.

Wynn Macau Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, May 29th were paid a $0.2015 dividend. 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.

About Wynn Macau

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.