Wynn Resorts (NASDAQ:WYNN) Hits New 52-Week Low at $52.89

Wynn Resorts, Limited (NASDAQ:WYNNGet Rating)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $52.89 and last traded at $53.43, with a volume of 7546 shares. The stock had previously closed at $54.30.

Several research analysts have issued reports on WYNN shares. StockNews.com started coverage on Wynn Resorts in a research note on Thursday, March 31st. They set a “sell” rating for the company. Morgan Stanley dropped their price objective on Wynn Resorts from $123.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. UBS Group set a $67.00 price objective on Wynn Resorts in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on Wynn Resorts from $123.00 to $92.00 in a research note on Wednesday, May 11th. Finally, Wells Fargo & Company dropped their price objective on Wynn Resorts from $97.00 to $79.00 in a research note on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.54.

The firm has a market capitalization of $6.25 billion, a P/E ratio of -9.48 and a beta of 2.22. The stock’s 50 day moving average is $65.79 and its two-hundred day moving average is $77.58.

Wynn Resorts (NASDAQ:WYNNGet Rating) last announced its earnings results on Tuesday, May 10th. The casino operator reported ($1.21) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.06). The company had revenue of $953.40 million for the quarter, compared to analyst estimates of $986.35 million. During the same period last year, the firm earned ($2.41) EPS. The company’s revenue was up 31.4% compared to the same quarter last year. Equities research analysts anticipate that Wynn Resorts, Limited will post -3.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Navalign LLC boosted its holdings in Wynn Resorts by 1.5% during the fourth quarter. Navalign LLC now owns 8,099 shares of the casino operator’s stock worth $689,000 after purchasing an additional 121 shares during the last quarter. DNB Asset Management AS lifted its stake in Wynn Resorts by 1.0% in the fourth quarter. DNB Asset Management AS now owns 12,953 shares of the casino operator’s stock valued at $1,102,000 after acquiring an additional 134 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in Wynn Resorts by 1.9% in the first quarter. Institute for Wealth Management LLC. now owns 7,563 shares of the casino operator’s stock valued at $603,000 after acquiring an additional 143 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in Wynn Resorts by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 13,893 shares of the casino operator’s stock valued at $1,108,000 after acquiring an additional 147 shares during the last quarter. Finally, Fusion Capital LLC lifted its stake in Wynn Resorts by 5.3% in the first quarter. Fusion Capital LLC now owns 3,131 shares of the casino operator’s stock valued at $250,000 after acquiring an additional 157 shares during the last quarter. Institutional investors and hedge funds own 62.72% of the company’s stock.

Wynn Resorts Company Profile (NASDAQ:WYNN)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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