Wynn Resorts Limited [WYNN] is -19.71% lower this YTD. Is it still time to buy?

Wynn Resorts Limited [NASDAQ: WYNN] traded at a low on 11/09/22, posting a -3.04 loss after which it closed the day’ session at $68.28. The company report on November 9, 2022 that Wynn Resorts, Limited Reports Third Quarter 2022 Results.

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Wynn Resorts, Limited (NASDAQ: WYNN) (the “Company”) today reported financial results for the third quarter ended September 30, 2022.

Operating revenues were $889.7 million for the third quarter of 2022, a decrease of $104.9 million, from $994.6 million for the third quarter of 2021. Net loss attributable to Wynn Resorts, Limited was $142.9 million, or $1.27 per diluted share, for the third quarter of 2022, compared to net loss attributable to Wynn Resorts, Limited of $166.2 million, or $1.45 per diluted share, for the third quarter of 2021. Adjusted Property EBITDA(1) was $173.5 million for the third quarter of 2022, compared to Adjusted Property EBITDA of $154.6 million for the third quarter of 2021.

The results of the trading session contributed to over 4169000 shares changing hands. Over the past one week, the price volatility of Wynn Resorts Limited stands at 4.32% while the volatility over the past one month is 5.11%.

The market cap for WYNN stock reached $7.31 billion, with 114.47 million shares outstanding and 103.45 million shares in the current float. Compared to the average trading volume of 3.81M shares, WYNN reached a trading volume of 4169000 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 $83.73 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.

Jefferies have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 26, 2022. The new note on the price target was released on September 15, 2022, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another raise to $62, while Barclays analysts kept a Equal Weight rating on WYNN stock. On April 01, 2022, analysts decreased their price target for WYNN shares from 98 to 96.50.

The Average True Range (ATR) for Wynn Resorts Limited is set at 3.74, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 1.88.

How has WYNN stock performed recently?

Wynn Resorts Limited [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.71. With this latest performance, WYNN shares gained by 14.49% in over the last four-week period, additionally plugging by 16.02% over the last 6 months – not to mention a drop of -27.45% 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 57.60, with the RSI for the last a single of trading hit 59.42, and the three-weeks RSI is set at 55.86 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 63.04, while it was recorded at 69.65 for the last single week of trading, and 68.47 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Wynn Resorts Limited [WYNN] shares currently have an operating margin of -10.30 and a Gross Margin at +13.00. Wynn Resorts Limited’s Net Margin is presently recorded at -20.08.

Wynn Resorts Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.

Insider trade positions for Wynn Resorts Limited [WYNN]

There are presently around $5,114 million, or 66.70% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 11,324,534, which is approximately 2.441% of the company’s market cap and around 0.10% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 9,234,491 shares of the stock with an approximate value of $630.53 million in WYNN stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $511.71 million in WYNN stock with ownership of nearly 27.327% of the company’s market capitalization.

Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 214 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 12,074,890 shares. Additionally, 242 investors decreased positions by around 7,043,255 shares, while 87 investors held positions by with 55,785,831 shares. The mentioned changes placed institutional holdings at 74,903,976 shares, according to the latest SEC report filing. WYNN stock had 57 new institutional investments in for a total of 1,212,153 shares, while 82 institutional investors sold positions of 2,306,633 shares during the same period.


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