Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week Low at $81.51

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $81.51 and last traded at $81.58, with a volume of 517190 shares. The stock had previously closed at $83.27.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WYNN. Citigroup lifted their target price on Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Mizuho initiated coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 target price on the stock. Seaport Res Ptn raised Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $132.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $119.53.

Wynn Resorts Stock Performance

The stock’s 50 day simple moving average is $89.32 and its two-hundred day simple moving average is $95.97. The firm has a market capitalization of $9.15 billion, a PE ratio of 11.03 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts expect that Wynn Resorts, Limited will post 5.62 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the transaction, the director now owns 9,226 shares of the company’s stock, valued at $870,842.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new stake in shares of Wynn Resorts in the first quarter valued at approximately $37,000. GAMMA Investing LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $38,000. Finally, Federated Hermes Inc. boosted its stake in shares of Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.