Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week Low at $79.82

Wynn Resorts, Limited (NASDAQ:WYNN) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $79.82 and last traded at $79.89, with a volume of 921331 shares changing hands. The stock had previously closed at $82.82.

Wall Street Analyst Weigh In

WYNN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, May 23rd. StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, July 18th. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, Stifel Nicolaus increased their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.53.

Wynn Resorts Trading Down 4.6 %

The firm’s 50 day simple moving average is $88.18 and its two-hundred day simple moving average is $95.63. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 11.35 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping 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 net margin of 12.36% and a negative return on equity of 46.04%. The business’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.62 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Activity at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the transaction, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its position in Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares during the period. International Assets Investment Management LLC bought a new position in Wynn Resorts during the second quarter valued at about $25,000. ICA Group Wealth Management LLC bought a new position in Wynn Resorts during the fourth quarter worth about $27,000. Register Financial Advisors LLC bought a new position in Wynn Resorts during the first quarter worth about $37,000. Finally, GAMMA Investing LLC bought a new position in Wynn Resorts during the fourth quarter worth about $38,000. Institutional investors 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.