Wynn Resorts, Limited (WYNN) Short Interest Update

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,703,459 shares, a decline of 40.4% from the July 13th total of 4,538,497 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,761,059 shares, the short-interest ratio is presently 1.5 days.

Shares of WYNN stock opened at $148.52 on Monday. Wynn Resorts has a 52 week low of $124.11 and a 52 week high of $203.63. The company has a market capitalization of $16.55 billion, a PE ratio of 27.20 and a beta of 1.39. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.08 and a quick ratio of 1.13.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, August 1st. The casino operator reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.43). Wynn Resorts had a return on equity of 69.17% and a net margin of 7.90%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. equities research analysts anticipate that Wynn Resorts will post 7.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Stockholders of record on Thursday, August 16th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.02%. Wynn Resorts’s dividend payout ratio is presently 54.95%.

Several hedge funds have recently made changes to their positions in WYNN. Global X Management Co. LLC grew its stake in shares of Wynn Resorts by 13.5% in the first quarter. Global X Management Co. LLC now owns 2,490 shares of the casino operator’s stock worth $454,000 after acquiring an additional 296 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Wynn Resorts by 28.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,846 shares of the casino operator’s stock worth $701,000 after acquiring an additional 862 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of Wynn Resorts in the first quarter worth approximately $2,735,000. American Assets Capital Advisers LLC grew its stake in shares of Wynn Resorts by 12.4% in the first quarter. American Assets Capital Advisers LLC now owns 146,100 shares of the casino operator’s stock worth $26,643,000 after acquiring an additional 16,100 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Wynn Resorts by 4.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,194 shares of the casino operator’s stock worth $2,406,000 after acquiring an additional 604 shares during the period. Hedge funds and other institutional investors own 76.59% of the company’s stock.

WYNN has been the subject of several recent analyst reports. BidaskClub cut shares of Wynn Resorts from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research cut shares of Wynn Resorts from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Deutsche Bank reaffirmed a “buy” rating and issued a $219.00 target price on shares of Wynn Resorts in a report on Sunday, April 29th. Morgan Stanley lifted their target price on shares of Wynn Resorts from $199.00 to $200.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 26th. Finally, ValuEngine cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Wynn Resorts currently has a consensus rating of “Buy” and an average price target of $194.83.

About Wynn Resorts

Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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