Wynn Macau (OTCMKTS:WYNMY) Shares Gap Up – Still a Buy?

Shares of Wynn Macau, Limited – Unsponsored ADR (OTCMKTS:WYNMY) gapped up before the market opened on Friday. The stock had previously closed at $5.9550, but opened at $6.22. Wynn Macau shares last traded at $6.22, with a volume of 594 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Wynn Macau from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. CLSA downgraded shares of Wynn Macau from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Wynn Macau Trading Up 4.5%

The firm has a 50-day moving average of $6.81 and a 200 day moving average of $6.95.

About Wynn Macau

Wynn Macau Limited is a developer and operator of integrated resort properties in Macau. The company is associated with Wynn Resorts and serves the Macau market through luxury resorts that combine casino gaming with hotels, restaurants, retail outlets, entertainment venues, spas and convention facilities.

Its principal properties include Wynn Macau on the Macau Peninsula and Wynn Palace in the Cotai area. The Wynn Macau resort also includes the Encore at Wynn Macau hotel tower. These properties offer a range of gaming options, premium accommodations, fine dining and leisure experiences aimed at both international visitors and regional travelers.

Wynn Macau Limited was established as part of Wynn Resorts’ expansion into Macau after receiving a gaming concession in 2002.