The government’s anti-corruption drive has made it unsafe for Chinese people to flaunt their wealth. Finally, Argus reissued a “hold” rating on shares of Wynn Resorts, Limited in a research note on Thursday, September 3rd.
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9/22/2015 – Wynn Resorts, Limited was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating.
On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Strzemp John, officer (EVP, Chief Administrative Ofc) of Wynn Resorts Ltd, unloaded 10,000 shares at an average price of $104.99 on July 31, 2015.
Wynn Resorts, Limited (NASDAQ:WYNN)’s stock had its “hold” rating reaffirmed by Stifel Nicolaus in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.
“Despite the concern over capital flight post-Dore incident reported on September 9, which has dragged the ADR [average daily revenue] lower in mid-September, the momentum was actually picking up towards the end of the month”, said analysts Kenneth Fong and Isis Wong. 4 analysts have added the shares in their list of strong buys.
9/8/2015 – Wynn Resorts, Limited had its “underperform” rating reaffirmed by analysts at Telsey Advisory Group.
The company released a statement found on Asian Gaming Brief which said “The Group may not resolutely to continue its presence in Macau VIP gaming industry anymore if this situation doesn’t correct itself in coming years”.
Wynn Resorts, Limited (NASDAQ:WYNN) opened at 53.12 on Wednesday. The stock has a market capitalization of $5.23 billion and a price-to-earnings ratio of 16.78. The company’s 50-day moving average price is $75.02 and its 200 day moving average price is $102.52.
However, shares of Macau casino operators surged on the Hong Kong market as the figures were in line with market expectations. The company earned $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. The firm’s revenue for the quarter was down 26.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 EPS. Now the company Insiders own 0.3% of Wynn Resorts Ltd. Company shares.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which incorporate amenities and accommodations, including fine dining, premium retail offerings, distinguishing entertainment and convention facilities. In Las Vegas, Nevada, the Company owns and operates Wynn Las Vegas, which includes Encore at Wynn Las Vegas.
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Macau casinos rallied Friday after Beijing’s top representative in the regional gambling hub signaled the central government is mulling measures to “support Macau’s economy in all aspects”.
