Out of the 730 hedge funds that we track at Insider Monkey, 25 managers have invested $936.81 million in the gaming company against investments of $878.66 million three months earlier.
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Positive hedge fund sentiment often indicates growth potential in upcoming months, so keeping this in mind we’re going to analyze the detailed hedge fund action surrounding Wynn Resorts, Limited (NASDAQ:WYNN). Analysts at Vetr downgraded shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating and set a $111.37 price target on the stock in a research note on Monday.
Wynn Resorts Limited (NASDAQ:WYNN) has received a strong sell rating for the short term, according to the rank of 5 from research firm, Zacks. The company has been rated an average of 2.4 by 15 Wall Street Analysts.
The target decrease is probably noticed by stock speculators, as NASDAQ:WYNN is now trading -2.89% lower at $104.16 as of 13:20 New York time. The 1-year stock price history is in the range of $93.59 – $220.5.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded down 2.01% during mid-day trading on Friday, hitting $101.71. The stock has a 50-day moving average of $102.87 and a 200-day moving average of $126.61. The company has a market cap of $10.55 billion and a price-to-earnings ratio of 12.69. The shares of Wynn Macau Ltd., a subsidiary of Wynn Resorts, Limited (NASDAQ:WYNN), were up by 5.7% as of the reporting period. The casino operator reported $0.70 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.33 by $0.63.
The company is expected to announce next quarter earnings on August 04, at consensus estimate of $1.06. Wynn Resorts, Limited’s revenue was down 27.8% compared to the same quarter a year ago. The daily volume was measured at 3,514,049 shares. Hagenbuch acquired 5,850 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $115.68 per share, for a total transaction of $676,728.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which integrate accommodations and amenities, including fine dining, premium retail offerings, distinctive entertainment and convention facilities. The Companys resort network includes 79 Diamond Resorts properties with over 9,000 units that it manages and 213 affiliated resorts and hotels and four cruise itineraries, which it do not manage and do not carry the Companys brand, but are a part of its network and are available for its members to use as vacation destinations. It owns and operates two resorts in Mississippi, which includes Beau Rivage in Biloxi and Gold Strike Tunica. The Company operates in two segments: hospitality and management services and sales and financing of VOIs. Its Las Vegas Operations refers to the integrated Wynn Las Vegas and Encore at Wynn Las Vegas resorts as Wynn Las Vegas, Encore or as its Las Vegas Operations.
