Wynn Resorts (NASDAQ:WYNN) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $81.24 and traded as high as $82.94. Wynn Resorts shares last traded at $82.38, with a volume of 4,388,839 shares.

Analyst Ratings Changes

WYNN has been the subject of a number of recent analyst reports. Argus raised their price objective on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Truist Financial dropped their target price on Wynn Resorts from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research note on Monday, September 21st. The Goldman Sachs Group set a $102.00 price target on Wynn Resorts in a report on Tuesday, October 13th. Finally, Barclays reduced their price target on Wynn Resorts from $136.00 to $128.00 and set an “overweight” rating for the company in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.88.

Wynn Resorts Stock Up 6.1%

The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.95 and a beta of 0.96. The stock has a fifty day moving average price of $81.24 and a two-hundred day moving average price of $98.00.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, research analysts forecast that Wynn Resorts, Limited will post 4.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WYNN. BlackRock Inc. acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Wynn Resorts during the second quarter worth about $321,402,000. State Street Corp raised its position in shares of Wynn Resorts by 2.6% in the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock valued at $295,924,000 after buying an additional 77,416 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Wynn Resorts by 17.4% in the first quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock valued at $125,918,000 after buying an additional 184,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Wynn Resorts in the second quarter valued at approximately $99,277,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.