Wynn Resorts (NASDAQ:WYNN) Trading Down 6.8% – Time to Sell?

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded down 6.8% on Friday . The stock traded as low as $123.14 and last traded at $124.26. 793,349 shares changed hands during trading, a decline of 66% from the average session volume of 2,348,017 shares. The stock had previously closed at $133.34.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Citigroup reiterated a “neutral” rating and set a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Morgan Stanley boosted their price target on Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. UBS Group upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their price target for the company from $101.00 to $147.00 in a report on Thursday, August 28th. Finally, Mizuho boosted their price target on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.33.

Wynn Resorts Price Performance

The firm has a 50-day moving average price of $119.03 and a 200 day moving average price of $99.57. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 6.19 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $1.12 EPS. Wynn Resorts’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio is presently 30.03%.

Insider Activity at Wynn Resorts

In other 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 value of $554,750.00. Following the transaction, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in the stock. Aaron Wealth Advisors LLC bought a new stake in shares of Wynn Resorts in the third quarter valued at approximately $225,000. GAMMA Investing LLC boosted its stake in shares of Wynn Resorts by 19.4% in the third quarter. GAMMA Investing LLC now owns 4,549 shares of the casino operator’s stock valued at $584,000 after buying an additional 738 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after buying an additional 737,234 shares during the period. Hudson Bay Capital Management LP boosted its stake in shares of Wynn Resorts by 1,848.5% in the second quarter. Hudson Bay Capital Management LP now owns 83,982 shares of the casino operator’s stock valued at $7,867,000 after buying an additional 79,672 shares during the period. Finally, Nomura Holdings Inc. boosted its stake in shares of Wynn Resorts by 2.6% in the second quarter. Nomura Holdings Inc. now owns 15,811 shares of the casino operator’s stock valued at $1,481,000 after buying an additional 395 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Company Profile

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.