Wynn Resorts (NASDAQ:WYNN) Sees Unusually-High Trading Volume

Wynn Resorts, Limited (NASDAQ:WYNN) shares saw unusually-high trading volume on Wednesday . Approximately 185,516 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 2,880,481 shares.The stock last traded at $84.38 and had previously closed at $92.25.

WYNN has been the subject of a number of research reports. Bank of America downgraded shares of Wynn Resorts from a “buy” rating to a “neutral” rating in a report on Monday, August 9th. Citigroup upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Thursday, August 5th. The Goldman Sachs Group cut their price objective on shares of Wynn Resorts from $116.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 28th. Finally, Wells Fargo & Company assumed coverage on shares of Wynn Resorts in a research note on Tuesday. They set an “equal weight” rating and a $112.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.44.

The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of -6.34 and a beta of 2.40. The company has a fifty day moving average price of $101.13 and a 200-day moving average price of $118.76.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, August 4th. The casino operator reported ($1.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.41) by $0.29. The company had revenue of $990.10 million during the quarter, compared to analyst estimates of $915.70 million. During the same quarter last year, the firm posted ($6.14) earnings per share. The firm’s revenue for the quarter was up 1055.3% compared to the same quarter last year. On average, research analysts anticipate that Wynn Resorts, Limited will post -5.56 EPS for the current fiscal year.

In related news, Director Patricia Mulroy sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $97.13, for a total value of $38,852.00. Following the completion of the sale, the director now directly owns 8,107 shares in the company, valued at approximately $787,432.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Company LLC bought a new stake in shares of Wynn Resorts during the first quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Wynn Resorts during the first quarter valued at approximately $31,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Wynn Resorts during the second quarter valued at approximately $34,000. Bessemer Group Inc. increased its position in shares of Wynn Resorts by 350.8% during the second quarter. Bessemer Group Inc. now owns 293 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 228 shares during the period. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in Wynn Resorts in the first quarter valued at $38,000. Institutional investors and hedge funds own 68.06% of the company’s stock.

Wynn Resorts Company Profile (NASDAQ:WYNN)

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

Recommended Story: What is operating income?

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.