Traders Buy Wynn Resorts (WYNN) on Weakness
Investors purchased shares of Wynn Resorts, Limited (NASDAQ:WYNN) on weakness during trading on Wednesday. $167.64 million flowed into the stock on the tick-up and $147.23 million flowed out of the stock on the tick-down, for a money net flow of $20.41 million into the stock. Of all stocks tracked, Wynn Resorts had the 30th highest net in-flow for the day. Wynn Resorts traded down ($1.78) for the day and closed at $162.52
WYNN has been the subject of a number of research analyst reports. TheStreet raised shares of Wynn Resorts from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. UBS Group reaffirmed a “buy” rating and set a $174.00 price objective (up from $149.00) on shares of Wynn Resorts in a research report on Friday, September 29th. Zacks Investment Research raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a research report on Tuesday, September 26th. Roth Capital initiated coverage on shares of Wynn Resorts in a research report on Thursday, October 26th. They set a “buy” rating and a $163.00 price objective for the company. Finally, Deutsche Bank set a $161.00 price objective on shares of Wynn Resorts and gave the stock a “buy” rating in a research report on Monday, October 16th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $151.67.
The company has a market capitalization of $16,700.00, a PE ratio of 45.02 and a beta of 1.73. The company has a current ratio of 1.72, a quick ratio of 1.68 and a debt-to-equity ratio of 24.54.
In related news, Director Alvin V. Shoemaker sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $151.74, for a total transaction of $2,276,100.00. Following the completion of the sale, the director now owns 19,162 shares of the company’s stock, valued at $2,907,641.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Matt Maddox sold 59,260 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $155.12, for a total transaction of $9,192,411.20. The disclosure for this sale can be found here. In the last three months, insiders sold 95,055 shares of company stock valued at $14,629,975. 13.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Wynn Resorts by 3.1% during the second quarter. Vanguard Group Inc. now owns 8,264,810 shares of the casino operator’s stock worth $1,108,476,000 after purchasing an additional 246,476 shares during the period. Capital International Investors lifted its position in Wynn Resorts by 0.3% during the third quarter. Capital International Investors now owns 3,143,896 shares of the casino operator’s stock worth $468,189,000 after purchasing an additional 8,534 shares during the period. Maverick Capital Ltd. lifted its position in Wynn Resorts by 36.9% during the second quarter. Maverick Capital Ltd. now owns 1,260,248 shares of the casino operator’s stock worth $169,024,000 after purchasing an additional 339,550 shares during the period. Thornburg Investment Management Inc. raised its stake in Wynn Resorts by 1.2% during the third quarter. Thornburg Investment Management Inc. now owns 890,955 shares of the casino operator’s stock worth $132,681,000 after acquiring an additional 10,734 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Wynn Resorts by 8.0% during the third quarter. Bank of New York Mellon Corp now owns 877,781 shares of the casino operator’s stock worth $130,719,000 after acquiring an additional 65,335 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.
WARNING: This report was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was illegally copied and republished in violation of international trademark & copyright laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2018/01/03/traders-buy-wynn-resorts-wynn-on-weakness.html.
Wynn Resorts Company Profile
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
Receive News & Stock Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related stocks with our FREE daily email newsletter.