As of Thursday, Wynn Resorts Limited’s (NASDAQ:WYNN) stock closed at $67.10, up from $66.29 the previous day. While Wynn Resorts Limited has overperformed by 1.22%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, WYNN fell by -26.34%, with highs and lows ranging from $107.44 to $50.20, whereas the simple moving average fell by -12.82% in the last 200 days.
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On June 29, 2022, Barclays started tracking Wynn Resorts Limited (NASDAQ: WYNN) recommending Equal Weight. A report published by Citigroup on April 01, 2022, Upgraded its rating to ‘Buy’ for WYNN. Wells Fargo also reiterated WYNN shares as ‘Equal Weight’, quoting a target price of $99 on the company’s shares in a report dated February 16, 2022. Morgan Stanley Reiterated the rating as Overweight on February 16, 2022, but set its price target from $117 to $123. JP Morgan resumed its ‘Neutral’ rating for WYNN, as published in its report on February 16, 2022. Deutsche Bank’s report from February 16, 2022 suggests a price prediction of $121 for WYNN shares, giving the stock a ‘Buy’ rating. Citigroup also rated the stock as ‘Neutral’.
Analysis of Wynn Resorts Limited (WYNN)
Further, the quarter-over-quarter increase in sales is 29.40%, showing a positive trend in the upcoming months.
One of the most important indicators of Wynn Resorts Limited’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 524.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and WYNN is recording 3.28M average volume. On a monthly basis, the volatility of the stock is set at 3.78%, whereas on a weekly basis, it is put at 3.40%, with a gain of 5.42% over the past seven days. Furthermore, long-term investors anticipate a median target price of $83.77, showing growth from the present price of $67.10, which can serve as yet another indication of whether WYNN is worth investing in or should be passed over.
How Do You Analyze Wynn Resorts Limited Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 61.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in WYNN shares?
The recent increase in stakes in WYNN appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in WYNN has increased by 1.19% in the first quarter. The company now owns 10,641,777 shares of the stock, with a value of $606.37 million, following the purchase of 124,634 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another decreased to its shares in WYNN during the first quarter, downing its stake by -11.14%. During the last quarter, the company dropped down -1,151,136 additional shares for a total stake of worth $523.03 million, bringing number of shares owned by the company to 9,179,180.
During the first quarter, Capital Research & Management Co subtracted a -16,254 position in WYNN. BlackRock Fund Advisors purchased an additional 96521.0 shares in the last quarter, increasing its holdings by 1.99%, now holding 4.94 million shares worth $281.76 million. At the end of the first quarter, SSgA Funds Management, Inc. decreased its WYNN holdings by -2.60% and now holds 4.0 million WYNN shares valued at $228.13 million with the lessened -0.11 million shares during the period. WYNN shares are owned by institutional investors to the tune of 61.70% at present.