Wynn Resorts (NASDAQ:WYNN) Trading Up 8.8% – Should You Buy?

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) rose 8.8% during trading on Tuesday . The company traded as high as $101.60 and last traded at $101.88. Approximately 1,103,590 shares changed hands during trading, a decline of 57% from the average daily volume of 2,580,983 shares. The stock had previously closed at $93.67.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research note on Monday, June 23rd. They set an “overweight” rating and a $109.00 price target for the company. Wall Street Zen lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Barclays lowered their price objective on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Mizuho cut their target price on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $112.82.

Wynn Resorts Stock Up 8.2%

The company has a market capitalization of $10.60 billion, a PE ratio of 28.14, a P/E/G ratio of 2.67 and a beta of 1.37. The stock has a 50-day moving average of $88.07 and a 200 day moving average of $85.15.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is currently 27.78%.

Insider Transactions at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the purchase, the insider directly owned 13,000,000 shares in the company, valued at approximately $879,060,000. This trade represents a 0.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. AlphaQuest LLC bought a new stake in Wynn Resorts in the 1st quarter valued at about $25,000. Dagco Inc. purchased a new position in shares of Wynn Resorts in the first quarter worth about $25,000. Global X Japan Co. Ltd. raised its position in shares of Wynn Resorts by 120.7% in the first 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 during the period. Geneos Wealth Management Inc. lifted its stake in shares of Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Wynn Resorts during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.