Wynn Resorts Limited [WYNN] Stock trading around $61.65 per share: What’s Next?

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Wynn Resorts Limited [NASDAQ: WYNN] jumped around 0.32 points on Tuesday, while shares priced at $61.65 at the close of the session, up 0.52%. The company report on May 10, 2022 that Wynn Resorts, Limited Reports First Quarter 2022 Results.

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Wynn Resorts, Limited (NASDAQ: WYNN) (the “Company”) today reported financial results for the quarter ended March 31, 2022.

Operating revenues were $953.3 million for the first quarter of 2022, an increase of $216.7 million, from $736.7 million for the first quarter of 2021. Net loss attributable to Wynn Resorts, Limited was $183.3 million, or $1.59 per diluted share, for the first quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $281.0 million, or $2.53 per diluted share, in the first quarter of 2021. Adjusted Property EBITDA(1) was $177.6 million for the first quarter of 2022, compared to Adjusted Property EBITDA of $58.9 million in the first quarter of 2021.

Wynn Resorts Limited stock is now -27.50% down from its year-to-date (YTD) trading value. WYNN Stock saw the intraday high of $63.41 and lowest of $59.72 per share. The company’s 52-week high price is 136.83, which means current price is +3.23% above from all time high which was touched on 02/15/22.

Compared to the average trading volume of 3.20M shares, WYNN reached a trading volume of 5770749 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Wynn Resorts Limited [WYNN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WYNN shares is $103.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WYNN stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 01, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $93 to $99. The new note on the price target was released on February 16, 2022, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another raise from $117 to $123, while Morgan Stanley kept a Overweight rating on WYNN stock. On February 16, 2022, analysts increased their price target for WYNN shares from 93 to 102.

The Average True Range (ATR) for Wynn Resorts Limited is set at 3.65, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 1.96.

How has WYNN stock performed recently?

Wynn Resorts Limited [WYNN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.00. With this latest performance, WYNN shares dropped by -14.65% in over the last four-week period, additionally sinking by -35.00% over the last 6 months – not to mention a drop of -50.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WYNN stock in for the last two-week period is set at 28.98, with the RSI for the last a single of trading hit 22.89, and the three-weeks RSI is set at 33.35 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 75.02, while it was recorded at 65.95 for the last single week of trading, and 86.40 for the last 200 days.

Wynn Resorts Limited [WYNN]: Deeper insight into the fundamentals

Wynn Resorts Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

Insider trade positions for Wynn Resorts Limited [WYNN]

There are presently around $4,463 million, or 64.10% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 10,940,868, which is approximately 0.405% of the company’s market cap and around 0.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 10,330,316 shares of the stock with an approximate value of $633.56 million in WYNN stocks shares; and BLACKROCK INC., currently with $418.04 million in WYNN stock with ownership of nearly -17.255% of the company’s market capitalization.

278 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 7,042,588 shares. Additionally, 252 investors decreased positions by around 8,146,877 shares, while 82 investors held positions by with 57,578,958 shares. The mentioned changes placed institutional holdings at 72,768,423 shares, according to the latest SEC report filing. WYNN stock had 89 new institutional investments in for a total of 1,976,199 shares, while 86 institutional investors sold positions of 1,476,539 shares during the same period.