Wynn Resorts (WYNN) – Investment Analysts’ Recent Ratings Changes

Wynn Resorts (NASDAQ: WYNN) recently received a number of ratings updates from brokerages and research firms:

• 4/10/2024 – Wynn Resorts had its price target raised by analysts at Barclays PLC from $117.00 to $123.00. They now have an “overweight” rating on the stock.
• 4/9/2024 – Wynn Resorts had its price target raised by analysts at Morgan Stanley from $107.00 to $114.00. They now have an “equal weight” rating on the stock.
• 4/4/2024 – Wynn Resorts is now covered by analysts at Mizuho. They set a “buy” rating and a $131.00 price target on the stock.
• 4/4/2024 – Wynn Resorts was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/27/2024 – Wynn Resorts was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/19/2024 – Wynn Resorts was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/7/2024 – Wynn Resorts was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 2/27/2024 – Wynn Resorts had its price target raised by analysts at JPMorgan Chase & Co. from $118.00 to $123.00. They now have an “overweight” rating on the stock.
• 2/26/2024 – Wynn Resorts was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 2/13/2024 – Wynn Resorts had its price target raised by analysts at Morgan Stanley from $99.00 to $107.00. They now have an “equal weight” rating on the stock.

Wynn Resorts Stock Down 2.1 %

Shares of WYNN stock opened at $104.24 on Thursday. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $117.86. The stock has a market capitalization of $11.68 billion, a PE ratio of 17.43 and a beta of 1.93. The firm has a 50 day moving average of $102.48 and a two-hundred day moving average of $94.52.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm’s revenue was up 83.1% compared to the same quarter last year. During the same quarter last year, the company posted ($1.23) EPS. Analysts expect that Wynn Resorts, Limited will post 5.28 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were given a $0.25 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

Insider Activity at Wynn Resorts

In related news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now owns 522 shares in the company, valued at $54,898.74. The disclosure for this sale can be found here. Insiders sold a total of 28,898 shares of company stock valued at $3,068,617 over the last ninety days. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after acquiring an additional 270 shares during the period. Point72 Europe London LLP acquired a new position in shares of Wynn Resorts during the fourth quarter worth about $26,000. ICA Group Wealth Management LLC purchased a new stake in Wynn Resorts during the fourth quarter worth about $27,000. Sunbelt Securities Inc. boosted its holdings in Wynn Resorts by 4,285.7% during 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 in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Wynn Resorts during the fourth quarter worth about $38,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.