Wynn Resorts (NASDAQ:WYNN) Upgraded to “Sell” by StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNNGet Rating) to a sell rating in a research report report published on Monday.

A number of other brokerages also recently commented on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a hold rating to a buy rating in a research note on Monday, September 26th. Citigroup increased their price target on Wynn Resorts from $87.50 to $91.00 and gave the stock a buy rating in a research report on Monday, September 26th. Wells Fargo & Company decreased their target price on Wynn Resorts from $77.00 to $74.00 and set an equal weight rating on the stock in a research report on Thursday, November 10th. Barclays increased their price target on Wynn Resorts to $75.00 in a report on Tuesday, November 15th. Finally, Morgan Stanley assumed coverage on Wynn Resorts in a report on Monday. They issued an equal weight rating and a $77.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $95.69.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $74.34 on Monday. The business’s 50-day moving average is $65.55 and its 200 day moving average is $62.93. Wynn Resorts has a 1 year low of $50.20 and a 1 year high of $96.50. The firm has a market capitalization of $8.42 billion, a P/E ratio of -13.42 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNNGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.20). The firm had revenue of $889.70 million during the quarter, compared to analyst estimates of $867.42 million. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.24) earnings per share. On average, analysts expect that Wynn Resorts will post -4.42 EPS for the current year.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,000 shares of Wynn Resorts stock in a transaction on Monday, September 19th. The stock was sold at an average price of $66.14, for a total value of $132,280.00. Following the completion of the transaction, the director now directly owns 6,781 shares in the company, valued at $448,495.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Wynn Resorts

Institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its holdings in Wynn Resorts by 1,986.7% during the 1st quarter. First Horizon Advisors Inc. now owns 313 shares of the casino operator’s stock worth $25,000 after buying an additional 298 shares during the last quarter. Sierra Capital LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth about $28,000. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in shares of Wynn Resorts during the second quarter worth about $28,000. NuWave Investment Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth about $29,000. Finally, Crewe Advisors LLC increased its position in shares of Wynn Resorts by 68.0% during the second quarter. Crewe Advisors LLC now owns 504 shares of the casino operator’s stock worth $29,000 after purchasing an additional 204 shares in the last quarter. 64.69% of the stock is owned by hedge funds and other institutional investors.

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.

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