Wynn Resorts (NASDAQ:WYNN) Shares Gap Up to $73.79

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) gapped up before the market opened on Thursday . The stock had previously closed at $71.99, but opened at $73.79. Wynn Resorts shares last traded at $77.32, with a volume of 6,260,616 shares changing hands.

Several research firms have recently weighed in on WYNN. UBS Group lifted their target price on shares of Wynn Resorts from $77.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 7th. Deutsche Bank increased their target price on Wynn Resorts from $72.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Roth Capital decreased their target price on Wynn Resorts from $140.00 to $104.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Bank of America upped their price target on Wynn Resorts from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $110.56.

The firm has a 50-day simple moving average of $84.94 and a two-hundred day simple moving average of $100.03. The company has a current ratio of 1.81, a quick ratio of 1.77 and a debt-to-equity ratio of 11.37. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of -21.48 and a beta of 2.47.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($2.49). Wynn Resorts had a negative net margin of 6.49% and a negative return on equity of 17.92%. The business had revenue of $953.70 million for the quarter, compared to the consensus estimate of $887.81 million. During the same period in the previous year, the business posted $1.61 EPS. Wynn Resorts’s revenue was down 42.2% compared to the same quarter last year. On average, sell-side analysts forecast that Wynn Resorts, Limited will post -11.69 earnings per share for the current year.

In related news, CFO Craig Scott Billings sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $84.77, for a total transaction of $508,620.00. Following the transaction, the chief financial officer now directly owns 84,287 shares in the company, valued at $7,145,008.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WYNN. Capital World Investors increased its holdings in Wynn Resorts by 38.1% in the 4th quarter. Capital World Investors now owns 6,187,167 shares of the casino operator’s stock valued at $859,212,000 after buying an additional 1,705,864 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Wynn Resorts by 192.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,249,204 shares of the casino operator’s stock valued at $312,347,000 after acquiring an additional 1,480,032 shares in the last quarter. Eminence Capital LP bought a new stake in Wynn Resorts in the first quarter valued at about $71,114,000. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter valued at about $132,852,000. Finally, Capital International Investors raised its position in Wynn Resorts by 10.9% in the first quarter. Capital International Investors now owns 5,143,287 shares of the casino operator’s stock worth $309,575,000 after purchasing an additional 504,204 shares in the last quarter. Hedge funds and other institutional investors own 74.88% of the company’s stock.

Wynn Resorts Company Profile (NASDAQ:WYNN)

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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