Wynn Resorts (NASDAQ:WYNN) Rating Lowered to Hold at StockNews.com

Wynn Resorts (NASDAQ:WYNN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

WYNN has been the subject of several other reports. Morgan Stanley upped their price objective on Wynn Resorts from $99.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 13th. Macquarie upped their price objective on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upped their price objective on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. UBS Group reduced their price objective on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Susquehanna upped their price objective on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.62.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $102.23 on Wednesday. The business’s fifty day moving average price is $100.53 and its 200-day moving average price is $93.84. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 17.10 and a beta of 1.94. Wynn Resorts has a 1-year low of $81.65 and a 1-year high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.76. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company’s revenue was up 83.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.23) EPS. Equities research analysts anticipate that Wynn Resorts will post 5.27 EPS for the current year.

Insider Activity

In other news, CEO Craig Scott Billings sold 11,451 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $95.26, for a total transaction of $1,090,822.26. Following the completion of the transaction, the chief executive officer now owns 264,830 shares in the company, valued at $25,227,705.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the sale, the chief financial officer now directly owns 78,150 shares in the company, valued at $8,226,850.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Craig Scott Billings sold 11,451 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $1,090,822.26. Following the sale, the chief executive officer now owns 264,830 shares in the company, valued at $25,227,705.80. The disclosure for this sale can be found here. Insiders sold a total of 73,828 shares of company stock worth $7,345,942 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Blue Trust Inc. raised its position in Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the period. Point72 Europe London LLP purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $27,000. Sunbelt Securities Inc. raised its holdings in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $38,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.