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

Wynn Resorts, Limited (NASDAQ:WYNN) saw a large growth in short interest in April. As of April 15th, there was short interest totalling 6,504,249 shares, a growth of 33.3% from the March 29th total of 4,880,478 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average daily volume of 2,977,171 shares, the short-interest ratio is currently 2.2 days.

Shares of NASDAQ WYNN opened at $149.30 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.40 and a debt-to-equity ratio of 5.19. Wynn Resorts has a 12 month low of $90.06 and a 12 month high of $202.48. The company has a market cap of $16.07 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.37 and a beta of 1.68.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Wednesday, January 30th. The casino operator reported $1.06 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.30). Wynn Resorts had a net margin of 8.70% and a return on equity of 47.05%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Wynn Resorts will post 6.38 earnings per share for the current year.

In related news, Director Patricia Mulroy sold 425 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $118.02, for a total value of $50,158.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matt Maddox sold 18,900 shares of Wynn Resorts stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $124.15, for a total transaction of $2,346,435.00. Following the completion of the sale, the chief executive officer now owns 487,399 shares of the company’s stock, valued at $60,510,585.85. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in Wynn Resorts by 84.2% during the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 117 shares during the period. JOYN Advisors Inc. increased its holdings in shares of Wynn Resorts by 1,680.0% during the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock valued at $26,000 after purchasing an additional 252 shares in the last quarter. Somerset Trust Co increased its holdings in shares of Wynn Resorts by 152.7% during the 1st quarter. Somerset Trust Co now owns 369 shares of the casino operator’s stock valued at $44,000 after purchasing an additional 223 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Wynn Resorts by 295.0% during the 1st quarter. First Hawaiian Bank now owns 395 shares of the casino operator’s stock valued at $47,000 after purchasing an additional 295 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in shares of Wynn Resorts by 47.1% during the 4th quarter. AdvisorNet Financial Inc now owns 456 shares of the casino operator’s stock valued at $45,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

WYNN has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $125.00 target price (up from $105.00) on shares of Wynn Resorts in a research note on Thursday, January 31st. Deutsche Bank lifted their target price on shares of Wynn Resorts from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, January 7th. Roth Capital reiterated a “buy” rating and issued a $135.00 target price (down from $140.00) on shares of Wynn Resorts in a research note on Thursday, January 31st. Zacks Investment Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “buy” rating and set a $123.00 target price for the company in a research note on Saturday, January 12th. Finally, ValuEngine cut shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $151.24.

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Wynn Resorts Company Profile

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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