Wynn Resorts (NASDAQ:WYNN) Shares Up 4.4% – Should You Buy?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price shot up 4.4% during mid-day trading on Monday . The stock traded as high as $134.20 and last traded at $134.3780. 669,984 shares changed hands during trading, a decline of 70% from the average session volume of 2,241,303 shares. The stock had previously closed at $128.68.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WYNN. Morgan Stanley upped their target price on Wynn Resorts from $130.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Mizuho increased their price objective on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, November 13th. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. The Goldman Sachs Group set a $145.00 price target on shares of Wynn Resorts in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has an average rating of “Moderate Buy” and a consensus target price of $134.31.

Wynn Resorts Stock Up 3.4%

The company has a market cap of $13.83 billion, a PE ratio of 39.94, a P/E/G ratio of 4.94 and a beta of 1.32. The stock’s 50 day simple moving average is $123.45 and its two-hundred day simple moving average is $111.69.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently made changes to their positions in WYNN. Dagco Inc. bought a new stake in Wynn Resorts during the first quarter valued at $25,000. AlphaQuest LLC bought a new stake in shares of Wynn Resorts during the 1st quarter valued at about $25,000. MUFG Securities EMEA plc purchased a new stake in Wynn Resorts in the second quarter valued at approximately $25,000. Root Financial Partners LLC bought a new stake in Wynn Resorts during the third quarter valued at approximately $26,000. Finally, Manchester Capital Management LLC grew its stake in Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after buying an additional 300 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.