Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Update

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 4,840,000 shares, a drop of 24.1% from the November 15th total of 6,380,000 shares. Based on an average daily trading volume, of 2,960,000 shares, the short-interest ratio is presently 1.6 days. Approximately 5.5% of the company’s stock are sold short.

Wynn Resorts Trading Up 1.1 %

NASDAQ WYNN opened at $94.53 on Friday. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The company has a fifty day simple moving average of $94.99 and a 200 day simple moving average of $87.84. The company has a market cap of $10.38 billion, a P/E ratio of 11.66, a P/E/G ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. Equities research analysts forecast that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is currently 12.33%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. IHT Wealth Management LLC raised its position in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after buying an additional 112 shares during the last quarter. Fifth Third Bancorp raised its holdings in Wynn Resorts by 8.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after acquiring an additional 120 shares in the last quarter. Allworth Financial LP lifted its position in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after acquiring an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock worth $496,000 after purchasing an additional 149 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of Wynn Resorts by 4.1% during the third quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock valued at $443,000 after purchasing an additional 181 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of research reports. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Barclays reduced their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley raised their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Company Profile

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.