Wynn Resorts (NASDAQ:WYNN) Now Covered by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Wynn Resorts (NASDAQ:WYNNGet Rating) in a research note published on Monday, The Fly reports. The brokerage issued an equal weight rating and a $77.00 price target on the casino operator’s stock.

A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group upgraded Wynn Resorts from a neutral rating to an outperform rating and set a $117.00 target price for the company in a report on Thursday, September 15th. Wells Fargo & Company decreased their price objective on Wynn Resorts from $77.00 to $74.00 and set an equal weight rating for the company in a report on Thursday, November 10th. Barclays boosted their price objective on Wynn Resorts to $75.00 in a report on Tuesday, November 15th. Jefferies Financial Group upgraded Wynn Resorts from a hold rating to a buy rating in a report on Monday, September 26th. Finally, StockNews.com started coverage on Wynn Resorts in a report on Wednesday, October 12th. They set a sell rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Wynn Resorts presently has an average rating of Hold and a consensus price target of $95.69.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $74.34 on Monday. The firm has a market cap of $8.42 billion, a P/E ratio of -13.42 and a beta of 1.91. The stock’s 50 day moving average is $65.55 and its 200 day moving average is $62.93. Wynn Resorts has a one year low of $50.20 and a one year high of $96.50.

Wynn Resorts (NASDAQ:WYNNGet Rating) last issued its earnings results on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.20). The business had revenue of $889.70 million during the quarter, compared to the consensus estimate of $867.42 million. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.24) earnings per share. Equities analysts anticipate that Wynn Resorts will post -4.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patricia Mulroy sold 2,000 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $66.14, for a total transaction of $132,280.00. Following the transaction, the director now owns 6,781 shares of the company’s stock, valued at approximately $448,495.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WYNN. Barclays PLC raised its stake in shares of Wynn Resorts by 383.5% during the 3rd quarter. Barclays PLC now owns 542,150 shares of the casino operator’s stock valued at $34,173,000 after purchasing an additional 430,030 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at $26,471,000. Suvretta Capital Management LLC bought a new stake in shares of Wynn Resorts during the 1st quarter valued at $29,190,000. Natixis raised its stake in shares of Wynn Resorts by 460.4% during the 2nd quarter. Natixis now owns 419,070 shares of the casino operator’s stock valued at $23,881,000 after purchasing an additional 344,295 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Wynn Resorts during the 3rd quarter valued at $17,831,000. Hedge funds and other institutional investors own 64.69% of the company’s stock.

Wynn Resorts Company Profile

(Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

Further Reading

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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