Wynn Resorts (NASDAQ:WYNN) Reaches New 12-Month Low - Here's What Happened

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $78.78 and last traded at $80.31, with a volume of 1920462 shares trading hands. The stock had previously closed at $81.55.

Analyst Ratings Changes

Several brokerages have recently issued reports on WYNN. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating and increased their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Barclays decreased their target price on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average price target of $118.17.

Wynn Resorts Stock Up 3.1 %

The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 2.35 and a beta of 1.33. The stock's 50-day moving average price is $81.04 and its 200 day moving average price is $86.27.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Wynn Resorts's dividend payout ratio is currently 23.75%.

Insider Activity

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the firm's stock in a transaction on Friday, March 21st. The stock was bought at an average price of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now directly owns 10,905,025 shares of the company's stock, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 438,700 shares of company stock valued at $31,300,943 in the last quarter. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New Wave Wealth Advisors LLC acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. raised its holdings in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after purchasing an additional 409 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Wynn Resorts in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 88.64% of the company's stock.

About Wynn Resorts

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.