Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director now owns 3,066 shares of the company's stock, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Wynn Resorts Stock Down 0.8%
WYNN stock traded down $0.73 during midday trading on Friday, reaching $90.00. The stock had a trading volume of 6,827,910 shares, compared to its average volume of 2,562,952. The business has a fifty day simple moving average of $82.85 and a two-hundred day simple moving average of $85.95. The firm has a market cap of $9.41 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts, Limited has a twelve month low of $65.25 and a twelve month high of $107.81.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. Wynn Resorts's quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.59 earnings per share. On average, equities analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.
Wynn Resorts Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.11%. Wynn Resorts's payout ratio is currently 27.78%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on WYNN shares. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Wednesday, May 7th. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and raised their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Wall Street Zen lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Mizuho lowered their target price on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $113.18.
Read Our Latest Research Report on Wynn Resorts
Hedge Funds Weigh In On Wynn Resorts
Several institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $7,515,000. Geneos Wealth Management Inc. grew its position in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock worth $32,000 after buying an additional 156 shares during the period. Glenview Trust co grew its position in shares of Wynn Resorts by 3.2% during the 1st quarter. Glenview Trust co now owns 23,665 shares of the casino operator's stock worth $1,976,000 after buying an additional 725 shares during the period. Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $1,253,000. Finally, Bayforest Capital Ltd acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $365,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.
Wynn Resorts Company Profile
(
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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.
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