Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wynn Resorts Limited shares valued at $432,320 were sold by CAMERON-DOE JULIE on Feb 22. At $108.08 per share, CAMERON-DOE JULIE sold 4,000 shares. The insider’s holdings dropped to 65,970 shares worth approximately $7.48 million following the completion of this transaction.
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Also, Whittemore Ellen F sold 10,383 shares, netting a total of over 1,136,731 in proceeds. Following the sale of shares at $109.48 each, the insider now holds 71,342 shares.
Before that, Billings Craig Scott had sold 10,310 shares from its account. In a trade valued at $1,055,228, the CEO traded Wynn Resorts Limited shares for $102.35 each. Upon closing the transaction, the insider’s holdings decreased to 10,310 shares, worth approximately $30.19 million.
As published in a research note from Wells Fargo on January 03, 2023, Wynn Resorts Limited [WYNN] has been rated up from an Equal weight to an Overweight and the price target has been revised to $101 from $74. This represents a -12.29% premium over Thursday’s closing price. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late November. As of November 21, 2022, Morgan Stanley has initiated its “an Equal-weight” rating for WYNN. Earlier on September 26, 2022, Jefferies upgraded its rating. Their new recommendation was “a Buy” for WYNN stock which previously was a “a Hold”.
Analyzing WYNN Stock Performance
On Thursday, Wynn Resorts Limited [NASDAQ: WYNN] rose 1.06% to $113.41. The stock’s lowest price that day was $111.16, but it reached a high of $114.34 in the same session. During the last five days, there has been a surge of approximately 7.15%. Over the course of the year, Wynn Resorts Limited shares have jumped approximately 37.52%. Shares of the company reached a 52-week high of $114.34 on 03/02/23 and a 52-week low of $83.93 on 01/03/23. A 50-day SMA is recorded $98.68, while a 200-day SMA reached $73.77. Nevertheless, trading volume fell to 4.03 million shares from 3.37 million shares the previous day.
Support And Resistance Levels for Wynn Resorts Limited (WYNN)
According to the 24-hour chart, there is a support level at 111.60, which, if violated, would cause prices to drop to 109.79. In the upper region, resistance lies at 114.78. The next price resistance is at 116.15. RSI (Relative Strength Index) is 72.57 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.89, which suggests the price will increase in the coming days. Percent R is at 8.79%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Wynn Resorts Limited subject to short interest?
Stocks of Wynn Resorts Limited saw a sharp steep in short interest on Jan 12, 2023 dropping by -1.72 million shares to 6.84 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 8.56 million shares. A decline of -25.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.54 of the overall float, the days-to-cover ratio (short ratio) decline to 2.54.
Which companies own the most shares of Wynn Resorts Limited (WYNN)?
According to The Vanguard Group, Inc. filings, the company currently owns 10,725,155 shares, which is about 9.47% of the total WYNN shares outstanding. The investor’s shares have plunged by -285,940 from its previous 13-F filing of 11011095.0 shares. With the completion of the buy transaction, Leucadia Asset Management LLC’s stake is now worth $950,858,550. T. Rowe Price Associates, Inc. reduced a -5.20% interest valued at $895.27 million while Capital Research & Management Co sold a -6,756 stake. A total of -198 shares of Wynn Resorts Limited were sold by BlackRock Fund Advisors during the quarter, and -100,345 were sold by SSgA Funds Management, Inc. In its current portfolio, Geode Capital Management LLC holds 2,224,339 shares valued at $230.53 million.
In terms of Wynn Resorts Limited share price expectations, FactSet research, analysts set an average price target of $117.57 in the next 12 months, up nearly 7.82% from the previous closing price of $112.22. Analysts anticipate Wynn Resorts Limited stock to reach $138.00 by 2023, with the lowest price target being $78.00. In spite of this, 16 analysts ranked Wynn Resorts Limited stock as an Overweight at the end of 2023. On September 15, 2022, Credit Suisse assigned a price target of “an Outperform” to the stock and upgraded coverage with a $117.