Wynn Resorts Limited (NASDAQ: WYNN) Seen Running Too Hot, Let’s Look At This More Closely


    The Vanguard Group, Inc. recently announced the acquisition of new stake in Wynn Resorts Limited (NASDAQ:WYNN). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.67% to 10.07 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 9.34% valued currently at $729.42 million. In addition, SSgA Funds Management, Inc. raised its holdings by 6994.0 to 3.96 million shares. And Susquehanna Financial Group LLLP has lifted its position by 329.73% or 1.32 million shares – to 1.72 million shares.

    With over 2.65 million Wynn Resorts Limited (WYNN) shares trading Tuesday and a closing price of $86.28 on the day, the dollar volume was approximately $228.55 million. The shares have shown a positive weekly performance of 0.08% and its price on 09/01/20 lost nearly -1.34%. Currently, there are 106.71M common shares owned by the public and among those 97.62M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for WYNN have a consensus price objective of $96.13. The analysts have set the share’s price value over the next 12 months at a high of $125.00 and a low of $72.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Wynn Resorts Limited stock is 2.00 for the next 12 months. The average price target is 11.73% above its last price level and an upside to the estimated low will see the stock lose -19.83% over that period. But an upside of 30.98% will see the stock hit the forecast high price target while mean target price for the stock is $95.00.

    Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 389,803 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 308,362 shares.

    The top 3 mutual fund holders in Wynn Resorts Limited are T Rowe Price Growth Stock Fund, Washington Mutual Investors Fund, and Vanguard Total Stock Market Index. T Rowe Price Growth Stock Fund owns 3.52 million shares of the company’s stock, all valued at over $255.21 million. The company sold -1.18 million shares recently to bring their total holdings to about 3.27% of the shares outstanding. Washington Mutual Investors Fund sold -2.93 million shares to see its total holdings shrink to 3.5 million shares valued at over $253.51 million and representing 3.25% of the shares outstanding. Vanguard Total Stock Market Index sold 1419.0 shares to bring its total holdings to over 2.78 million shares at a value of $201.13 million. Vanguard Total Stock Market Index now owns shares totaling to 2.57% of the shares outstanding.

    Shares of Wynn Resorts Limited (NASDAQ: WYNN) opened at $87.08, down -$0.37 from a prior closing price of $87.45. However, the script later closed the day at $86.28, down -1.34%. The company’s stock has a 5-day price change of 0.08% and -7.72% over the past three months. WYNN shares are trading -37.87% year to date (YTD), with the 12-month market performance down to -18.09% lower. It has a 12-month low price of $35.84 and touched a high of $153.41 over the same period. Currently, 2.65 million shares have been traded, compared to an average intraday trading volume of 5.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.28%, 9.27%, and -11.36% respectively.

    Institutional ownership of Wynn Resorts Limited (NASDAQ: WYNN) shares accounts for 71.90% of the company’s 106.71M shares outstanding. Mutual fund holders own 31.18%, while other institutional holders and individual stakeholders account for 39.88% and 23.63% respectively.

    It has a market capitalization of $8.79B and a beta (3y monthly) value of 2.37. The earnings-per-share (ttm) stands at -$10.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.30% over the week and 4.61% over the month.

    Analysts forecast that Wynn Resorts Limited (WYNN) will achieve an EPS of $Wyndham Destinations, Inc. for the current quarter, $29.61 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $WYNN MACAU while analysts give the company a high EPS estimate of $WYNN MACAU LTD. Comparatively, EPS for the current quarter was $WYNN MACAU LTD a year ago. Earnings per share for the fiscal year are expected to decrease by -32.20%, and 104.80% over the next financial year. EPS should grow at an annualized rate of 5.36% over the next five years, compared to -30.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Wynn Resorts Limited (WYNN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 5 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the WYNN, a number of firms have released research notes about the stock. Credit Suisse stated their Neutral rating for the stock in a research note on May 21, 2020, with the firm’s price target at $125-$72. Citigroup coverage for the Wynn Resorts Limited (WYNN) stock in a research note released on April 13, 2020 offered a Buy rating with a price target of. Standpoint Research was of a view on February 27, 2020 that the stock is Buy, while BofA/Merrill gave the stock Buy rating on February 12, 2020, issuing a price target of $150. CFRA on their part issued Strong Sell rating on February 07, 2020.


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