Wynn Resorts Limited [NASDAQ: WYNN] stock went on a downward path that fall over -1.65% on Thursday, amounting to a one-week price decrease of less than -4.37%. The company report on December 16, 2022 that Wynn Resorts Macau Signs 10-year Gaming Concession Agreement.
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Wynn Resorts is pleased to announce that Wynn Resorts (Macau) S.A. has entered into a 10-year agreement with the Macau government for the renewal of its gaming concession, covering Wynn Macau and Wynn Palace Cotai. Through our extensive and positive discussions with the Macau government, we are confident that the market holds significant future opportunity. We thank the government for its partnership and look forward to further supporting Macau as a world tourism and leisure center.
Over the last 12 months, WYNN stock dropped by -5.39%. The one-year Wynn Resorts Limited stock forecast points to a potential upside of 14.14. The average equity rating for WYNN stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.09 billion, with 112.71 million shares outstanding and 96.11 million shares in the current float. Compared to the average trading volume of 3.94M shares, WYNN stock reached a trading volume of 4667033 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $94.62 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.
JP Morgan have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 28, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on November 21, 2022, representing the official price target for Wynn Resorts Limited stock.
The Average True Range (ATR) for Wynn Resorts Limited is set at 2.88, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 2.40.
WYNN Stock Performance Analysis:
Wynn Resorts Limited [WYNN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.37. With this latest performance, WYNN shares gained by 7.50% in over the last four-week period, additionally plugging by 39.37% over the last 6 months – not to mention a drop of -5.39% 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 51.26, with the RSI for the last a single of trading hit 42.87, and the three-weeks RSI is set at 54.98 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 73.28, while it was recorded at 82.80 for the last single week of trading, and 67.63 for the last 200 days.
Insight into Wynn Resorts Limited 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 1.40.
Wynn Resorts Limited [WYNN] Insider Position Details
There are presently around $6,048 million, or 66.40% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 11,424,780, which is approximately 0.885% of the company’s market cap and around 0.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 9,112,067 shares of the stock with an approximate value of $740.26 million in WYNN stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $652.27 million in WYNN stock with ownership of nearly 7.135% 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 215 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 6,373,303 shares. Additionally, 228 investors decreased positions by around 6,384,832 shares, while 89 investors held positions by with 61,684,083 shares. The mentioned changes placed institutional holdings at 74,442,218 shares, according to the latest SEC report filing. WYNN stock had 70 new institutional investments in for a total of 2,221,092 shares, while 57 institutional investors sold positions of 1,323,083 shares during the same period.