Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) shares traded down 4.5% on Wednesday after an insider sold shares in the company. The stock traded as low as $64.74 and last traded at $64.76. 31,102 shares changed hands during trading, a decline of 99% from the average session volume of 2,242,778 shares. The stock had previously closed at $67.80.
Specifically, Director Patricia Mulroy sold 2,000 shares of Wynn Resorts stock in a transaction on Monday, September 19th. The stock was sold at an average price of $66.14, for a total value of $132,280.00. Following the sale, the director now owns 6,781 shares in the company, valued at $448,495.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on WYNN. UBS Group set a $67.00 price objective on Wynn Resorts in a research note on Monday, June 20th. Credit Suisse Group raised Wynn Resorts from a “neutral” rating to an “outperform” rating and set a $117.00 price objective for the company in a research note on Thursday, September 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on Wynn Resorts from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Barclays lifted their price objective on Wynn Resorts to $71.00 in a research note on Monday, August 15th. Finally, Citigroup dropped their price objective on Wynn Resorts from $92.00 to $87.50 and set a “buy” rating for the company in a research note on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.32.
Wynn Resorts Stock Performance
Wynn Resorts (NASDAQ:WYNN – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The casino operator reported ($0.82) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.12. The business had revenue of $908.83 million for the quarter, compared to analyst estimates of $980.84 million. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.12) earnings per share. On average, research analysts expect that Wynn Resorts, Limited will post -3.7 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Wynn Resorts during the 1st quarter worth about $25,000. First Horizon Advisors Inc. lifted its holdings in shares of Wynn Resorts by 1,986.7% in the 1st quarter. First Horizon Advisors Inc. now owns 313 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 298 shares during the last quarter. Sierra Capital LLC purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $28,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $28,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Wynn Resorts by 68.0% in the 2nd quarter. Crewe Advisors LLC now owns 504 shares of the casino operator’s stock valued at $29,000 after purchasing an additional 204 shares during the last quarter. 64.69% of the stock is owned by institutional investors and hedge funds.
About Wynn Resorts
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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