Traders Buy Shares of Wynn Resorts Ltd. (WYNN) on Weakness
Traders bought shares of Wynn Resorts Ltd. (NASDAQ:WYNN) on weakness during trading hours on Wednesday. $154.59 million flowed into the stock on the tick-up and $135.98 million flowed out of the stock on the tick-down, for a money net flow of $18.61 million into the stock. Of all stocks tracked, Wynn Resorts had the 6th highest net in-flow for the day. Wynn Resorts traded down ($5.58) for the day and closed at $90.81
Several brokerages have commented on WYNN. Gabelli reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Sunday, May 8th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Wynn Resorts in a research report on Saturday, June 4th. Zacks Investment Research cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Deutsche Bank AG restated a “hold” rating on shares of Wynn Resorts in a research report on Sunday, June 26th. Finally, Vetr upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 price objective on the stock in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.33.
The stock has a market cap of $9.21 billion and a price-to-earnings ratio of 28.10. The stock’s 50-day moving average is $97.17 and its 200 day moving average is $92.12.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts Ltd. will post $3.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Thursday, August 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.00 dividend on an annualized basis and a yield of 2.20%.
An institutional investor recently raised its position in Wynn Resorts stock. Stephens Inc. AR boosted its position in Wynn Resorts Ltd. (NASDAQ:WYNN) by 183.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,928 shares of the casino operator’s stock after buying an additional 18,058 shares during the period. Stephens Inc. AR’s holdings in Wynn Resorts were worth $1,932,000 at the end of the most recent quarter.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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