Wynn Resorts Limited [WYNN] Stock trading around $109.63 per share: What’s Next?

Wynn Resorts Limited [NASDAQ: WYNN] traded at a low on 03/09/23, posting a -3.44 loss after which it closed the day’ session at $109.63. The company report on February 16, 2023 that Wynn Resorts Announces Initial Settlement of Tender Offer for Cash by Wynn Resorts Finance, LLC for Any and All of its 7.750% Senior Notes due 2025.

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Wynn Resorts, Limited (NASDAQ:WYNN) (“Wynn Resorts”) announced today the initial settlement of the previously announced cash tender offer (the “Tender Offer”) by its indirect wholly-owned subsidiary, Wynn Resorts Finance, LLC, (“Wynn Resorts Finance”), for any and all of the outstanding $600 million aggregate principal amount of 7.750% Senior Notes due 2025 (the “2025 Notes”) of Wynn Resorts Finance and Wynn Resorts Capital Corp.

The Tender Offer is expired at 5:00 P.M., New York City time, on February 15, 2023 (the “Expiration Time”). At the Expiration Time, valid tenders had been received with respect to approximately $506.4 million of the $600 million aggregate principal amount of 2025 Notes outstanding (which excludes 2025 Notes subject to the guaranteed delivery procedures).

The results of the trading session contributed to over 2850188 shares changing hands. Over the past one week, the price volatility of Wynn Resorts Limited stands at 2.38% while the volatility over the past one month is 2.54%.

The market cap for WYNN stock reached $12.20 billion, with 112.31 million shares outstanding and 96.11 million shares in the current float. Compared to the average trading volume of 2.57M shares, WYNN reached a trading volume of 2850188 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 $117.23 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.

Wells Fargo have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 03, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $71 to $91. The new note on the price target was released on November 28, 2022, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another raise to $77, while Morgan Stanley analysts kept a Equal-Weight rating on WYNN stock.

The Average True Range (ATR) for Wynn Resorts Limited is set at 3.03, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 3.25.

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 -3.33. With this latest performance, WYNN shares gained by 5.88% in over the last four-week period, additionally plugging by 81.78% over the last 6 months – not to mention a rise of 52.82% 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 54.86, with the RSI for the last a single of trading hit 48.76, and the three-weeks RSI is set at 58.45 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 101.85, while it was recorded at 113.51 for the last single week of trading, and 75.01 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 -6.97 and a Gross Margin at +17.95. Wynn Resorts Limited’s Net Margin is presently recorded at -11.28.

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 $9,011 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 11,132,845, which is approximately -2.555% of the company’s market cap and around 0.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 8,638,226 shares of the stock with an approximate value of $947.01 million in WYNN stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $879.48 million in WYNN stock with ownership of nearly -0.084% of the company’s market capitalization.

Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 251 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 15,410,310 shares. Additionally, 250 investors decreased positions by around 8,381,876 shares, while 78 investors held positions by with 58,403,578 shares. The mentioned changes placed institutional holdings at 82,195,764 shares, according to the latest SEC report filing. WYNN stock had 104 new institutional investments in for a total of 9,829,939 shares, while 56 institutional investors sold positions of 795,105 shares during the same period.


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