Wynn Resorts, Limited (WYNN) Sees Significant Growth in Short Interest

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 5,219,938 shares, an increase of 93.1% from the July 31st total of 2,703,459 shares. Based on an average daily volume of 3,396,562 shares, the short-interest ratio is presently 1.5 days. Currently, 5.6% of the company’s stock are short sold.

Shares of WYNN opened at $148.73 on Tuesday. Wynn Resorts has a one year low of $132.26 and a one year high of $203.63. The stock has a market capitalization of $15.85 billion, a PE ratio of 27.27, a PEG ratio of 0.93 and a beta of 1.39. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 4.47.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data 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 net margin of 7.90% and a return on equity of 69.17%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business earned $1.18 EPS. The business’s revenue was up 9.0% on a year-over-year basis. research analysts forecast that Wynn Resorts will post 7.86 earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Winslow Capital Management LLC acquired a new stake in shares of Wynn Resorts during the 1st quarter worth about $184,340,000. BlackRock Inc. lifted its stake in shares of Wynn Resorts by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after buying an additional 641,845 shares during the last quarter. FMR LLC lifted its stake in shares of Wynn Resorts by 491.2% during the 2nd quarter. FMR LLC now owns 625,891 shares of the casino operator’s stock worth $104,737,000 after buying an additional 520,025 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $54,151,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $44,659,000. 75.27% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on the stock. BidaskClub downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Argus downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 target price for the company. in a research report on Tuesday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Wynn Resorts in a research report on Wednesday, August 1st. Stifel Nicolaus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and decreased their target price for the company from $209.00 to $207.00 in a research report on Tuesday, July 10th. Finally, Bank of America decreased their target price on shares of Wynn Resorts from $180.00 to $175.00 and set a “neutral” rating for the company in a research report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $189.63.

Wynn Resorts Company Profile

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.

Further Reading: Growth Stocks

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