Wynn Resorts (NASDAQ:WYNN) Shares Down 5.2%

Wynn Resorts, Limited (NASDAQ:WYNN)’s stock price fell 5.2% during mid-day trading on Friday . The company traded as low as $71.50 and last traded at $72.43, 5,501,675 shares traded hands during trading. A decline of 0% from the average session volume of 5,504,266 shares. The stock had previously closed at $76.42.

A number of research firms recently issued reports on WYNN. Zacks Investment Research downgraded Wynn Resorts from a “hold” rating to a “sell” rating and set a $65.00 price target on the stock. in a research note on Saturday, April 11th. Roth Capital lowered their target price on Wynn Resorts from $140.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Barclays lowered their target price on Wynn Resorts from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, July 20th. Jefferies Financial Group lowered their target price on Wynn Resorts from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup upgraded Wynn Resorts from a “neutral” rating to a “buy” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Wynn Resorts has an average rating of “Buy” and an average price target of $107.50.

The company has a debt-to-equity ratio of 11.37, a current ratio of 1.81 and a quick ratio of 1.77. The stock has a market capitalization of $8.24 billion, a PE ratio of -20.12 and a beta of 2.47. The stock has a 50 day moving average of $79.35 and a two-hundred day moving average of $91.62.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.05) by ($2.49). The business had revenue of $953.70 million during the quarter, compared to analysts’ expectations of $887.81 million. Wynn Resorts had a negative net margin of 6.49% and a negative return on equity of 17.92%. The firm’s quarterly revenue was down 42.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 earnings per share. As a group, research analysts predict that Wynn Resorts, Limited will post -11.91 earnings per share for the current fiscal year.

In related news, CFO Craig Scott Billings sold 6,000 shares of Wynn Resorts stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $84.77, for a total transaction of $508,620.00. Following the completion of the transaction, the chief financial officer now directly owns 84,287 shares of the company’s stock, valued at $7,145,008.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.75% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in shares of Wynn Resorts by 427.7% in the fourth quarter. Advisors Asset Management Inc. now owns 2,818 shares of the casino operator’s stock worth $391,000 after acquiring an additional 2,284 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Wynn Resorts by 87.1% in the first quarter. APG Asset Management N.V. now owns 129,152 shares of the casino operator’s stock worth $7,774,000 after acquiring an additional 60,136 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Wynn Resorts by 54.2% in the first quarter. Gateway Investment Advisers LLC now owns 18,157 shares of the casino operator’s stock worth $1,093,000 after acquiring an additional 6,381 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Wynn Resorts by 4.9% in the first quarter. BlackRock Inc. now owns 6,436,674 shares of the casino operator’s stock worth $387,423,000 after acquiring an additional 301,918 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Wynn Resorts by 10.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 18,552 shares of the casino operator’s stock worth $1,117,000 after acquiring an additional 1,777 shares during the last quarter. 74.80% of the stock is owned by hedge funds and other institutional investors.

About Wynn Resorts (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.

Featured Story: How to trade on quiet period expirations

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.