Wynn Resorts, Limited (NASDAQ:WYNN) Short Interest Up 20.0% in March

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 6,833,602 shares, a growth of 20.0% from the February 26th total of 5,694,412 shares. Based on an average daily volume of 2,524,320 shares, the short-interest ratio is currently 2.7 days. Currently, 6.6% of the company’s stock are sold short.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $101.55 on Wednesday. The stock has a 50-day simple moving average of $107.59 and a 200 day simple moving average of $117.68. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.72. The company has a market cap of $10.57 billion, a PE ratio of 33.85, a PEG ratio of 10.96 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. On average, research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, February 23rd. Wynn Resorts’s payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc bought a new stake in Wynn Resorts during the 2nd quarter worth about $25,000. Root Financial Partners LLC bought a new stake in Wynn Resorts during the third quarter worth about $26,000. Hantz Financial Services Inc. raised its holdings in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in Wynn Resorts during the third quarter valued at approximately $31,000. Finally, Cromwell Holdings LLC boosted its position in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

WYNN has been the subject of a number of research reports. Macquarie Infrastructure reissued an “outperform” rating and set a $143.00 target price on shares of Wynn Resorts in a research note on Monday, December 8th. Mizuho upped their price target on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Finally, Morgan Stanley cut their price objective on shares of Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.87.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.