Wynn Macau, Limited – Unsponsored ADR (OTCMKTS:WYNMY) experienced a remarkable surge in short interest as of September 30, 2023. The total short interest reached 15,100 shares, marking an increase of 843.8% compared to the 1,600 shares reported on September 15. This spike indicates heightened investor speculation surrounding the stock, particularly as the days-to-cover ratio stands at 0.7 days, based on an average daily trading volume of 22,900 shares.
On the trading floor, shares of Wynn Macau opened at $8.21 on October 6, 2023, reflecting a decline of 1.3%. Over the past year, the stock has fluctuated significantly, with a low of $5.83 and a high of $9.80. The company’s 50-day moving average price is recorded at $8.67, while its 200-day moving average sits at $7.66.
Dividend Announcement and Analyst Upgrades
In a recent move that underscores its financial strategy, Wynn Macau announced a dividend payment of $0.2013 per share, which was disbursed on October 1, 2023. Shareholders on record as of September 5, 2023, benefited from this distribution. The ex-dividend date was noted as September 4, 2023, yielding a substantial 417.0% for investors.
Wall Street analysts are reacting positively to Wynn Macau’s performance. On October 3, Citigroup upgraded the stock from a “hold” to a “strong-buy” rating. Currently, two analysts have rated the stock as a “Strong Buy,” while one has issued a “Sell” rating. According to data from MarketBeat, the average rating for Wynn Macau remains at “Buy,” indicating overall confidence among market observers.
About Wynn Macau, Limited
Wynn Macau, Limited operates integrated destination casino resorts in Macau through its various subsidiaries. The flagship property, Wynn Palace, boasts approximately 468,000 square feet of casino space, which includes both private gaming salons and sky casinos. Additionally, the resort features a luxury hotel with a range of accommodations, including guest rooms, suites, and villas, alongside a diverse selection of food and beverage outlets.
As Wynn Macau navigates its market challenges and opportunities, the recent uptick in short interest and analyst optimism may signal an intriguing phase for investors and stakeholders alike.
