Wynn Resorts Limited (WYNN): $3 million was the positive money flow into the stock on Wednesday and the up/down ratio of ticks was also in favor of the bulls at 1.07. The value of trades done on upticks was $47.37 million, whereas, trades done on downticks were valued at $44.37 million. Money flows are calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades. large traders, also sometimes called as the smart money, block traded $4.82 million worth stocks on upticks, which is a bullish indication. The downticks accounted only for $3.03 million worth of block trades showing a lack of interest among the large traders to sell the stock down. The up/down ratio of 1.59 was strongly in favor of the bulls. The money flow in block trades was $1.79 million. Wynn Resorts Limited (WYNN) fell $0.99 traded at $94.18, a change of -1.04% over the previous day. The stock is 2.13% for the week.
Also, JP Morgan downgrades its rating on Wynn Resorts Limited (NASDAQ:WYNN). The global brokerage major lowers the current price target from $101 per share to $94 per share. Analysts at the JP Morgan have a current rating of Neutral on the shares. The shares were previously rated Overweight. The rating by the firm was issued on July 14, 2016.
Wynn Resorts Limited (NASDAQ:WYNN): The stock opened at $94.29 on Wednesday but the bulls could not build on the opening and the stock topped out at $94.96 for the day. The stock traded down to $93.19 during the day, due to lack of any buying support eventually closed down at $94.18 with a loss of -1.04% for the day. The stock had closed at $95.17 on the previous day. The total traded volume was 2,077,012 shares.
The stock has recorded a 20-day Moving Average of 0.97% and the 50-Day Moving Average is 0.75%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CEO of Wynn Resorts Ltd, Wynn Family Limited Partnershi, had purchased 258,523 shares in a transaction dated on February 8, 2016. The transaction was executed at $58.48 per share with total amount equaling $15,118,425.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts which integrate accommodations and amenities, including fine dining, premium retail offerings, distinctive entertainment and convention facilities. The Company owns 72% of Wynn Macau, Limited, which operates an integrated resort in the Macau Special Administrative Region of the Peoples Republic of China (Macau). Wynn Resorts also owns 100% of and operates an integrated resort in Las Vegas, Nevada. The company operates through two segments: Macau Operations, which includes Wynn Macau and Encore at Wynn Maca, and Las Vegas Operations, which includes Wynn Las Vegas and Encore at Wynn Las Vegas. Its Macau Operations features approximately 284,000 square feet of casino space with 498 table games and 625 slot machines, two hotel towers and others. Its Las Vegas Operations features approximately 186,000 square feet of casino space with 232 table games, 1,849 slot machines, two hotel towers and others.