Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week Low at $81.51

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) reached a new 52-week low on Wednesday . The company traded as low as $81.51 and last traded at $81.58, with a volume of 517190 shares trading hands. The stock had previously closed at $83.27.

Wall Street Analyst Weigh In

A number of research firms recently commented on WYNN. Barclays upped their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Stifel Nicolaus raised their price objective on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Morgan Stanley cut their price objective on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Four 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.53.

Wynn Resorts Stock Up 1.4 %

The business’s 50 day simple moving average is $89.32 and its two-hundred day simple moving average is $95.97. The stock has a market cap of $9.15 billion, a P/E ratio of 11.03 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. As a group, research analysts forecast that Wynn Resorts, Limited will post 5.62 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Wynn Resorts’s payout ratio is presently 13.70%.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently modified their holdings of the business. Sei Investments Co. lifted its holdings in Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after buying an additional 7,380 shares during the period. Concord Investment Counsel Inc. acquired a new position in Wynn Resorts in the first quarter valued at $2,461,000. CIBC Private Wealth Group LLC acquired a new position in Wynn Resorts in the fourth quarter valued at $1,376,000. UniSuper Management Pty Ltd lifted its holdings in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 8,590 shares during the period. Finally, Jump Financial LLC lifted its holdings in Wynn Resorts by 28.1% in the fourth quarter. Jump Financial LLC now owns 56,755 shares of the casino operator’s stock valued at $5,171,000 after buying an additional 12,461 shares during the period. Institutional investors and hedge funds own 68.87% 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.