Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Up 28.6% in February

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 7,510,000 shares, an increase of 28.6% from the January 31st total of 5,840,000 shares. Approximately 8.8% of the company’s shares are sold short. Based on an average daily volume of 2,420,000 shares, the short-interest ratio is currently 3.1 days.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $90.67 on Thursday. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The business’s 50-day simple moving average is $85.34 and its 200 day simple moving average is $88.13. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities research analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Insider Activity

In other news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC increased its holdings in Wynn Resorts by 1.7% in 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 increased its holdings in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after buying an additional 119 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after buying an additional 122 shares during the last quarter. BOKF NA increased its holdings in Wynn Resorts by 3.9% in the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock valued at $289,000 after buying an additional 132 shares during the last quarter. Finally, Snowden Capital Advisors LLC increased its holdings in Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock valued at $223,000 after buying an additional 138 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Barclays lifted their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Mizuho boosted 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. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

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.