Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $108.00

Wynn Resorts (NASDAQ:WYNNGet Free Report) had its price target reduced by investment analysts at UBS Group from $117.00 to $108.00 in a report issued on Tuesday. The brokerage currently has a “neutral” rating on the casino operator’s stock. UBS Group’s price target would indicate a potential upside of 8.18% from the stock’s current price.

WYNN has been the subject of a number of other research reports. Morgan Stanley reduced their price target on Wynn Resorts from $109.00 to $107.00 and set an “equal weight” rating for the company in a report on Thursday, November 16th. HSBC initiated coverage on Wynn Resorts in a report on Monday, October 23rd. They set a “buy” rating and a $111.00 price target for the company. Macquarie upgraded Wynn Resorts from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $115.00 to $122.00 in a report on Wednesday, January 17th. Susquehanna began coverage on Wynn Resorts in a report on Friday, December 15th. They set a “positive” rating and a $105.00 price objective for the company. Finally, Bank Of America (Bofa) boosted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.08.

Read Our Latest Stock Report on WYNN

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $99.83 on Tuesday. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 1,247.88 and a beta of 1.93. The business has a 50-day moving average of $91.83 and a 200-day moving average of $93.42. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $117.86.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last announced its quarterly earnings data 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 company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 6.80% and a net margin of 0.58%. Wynn Resorts’s revenue for the quarter was up 83.1% compared to the same quarter last year. During the same quarter last year, the company earned ($1.23) EPS. On average, sell-side analysts expect that Wynn Resorts will post 3.24 EPS for the current year.

Insider Buying and Selling

In related news, EVP Ellen F. Whittemore sold 654 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total value of $61,410.60. Following the sale, the executive vice president now owns 90,025 shares of the company’s stock, valued at $8,453,347.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Wynn Resorts news, CEO Craig Scott Billings sold 1,336 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total transaction of $125,450.40. Following the sale, the chief executive officer now owns 328,056 shares of the company’s stock, valued at $30,804,458.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ellen F. Whittemore sold 654 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total transaction of $61,410.60. Following the sale, the executive vice president now directly owns 90,025 shares in the company, valued at approximately $8,453,347.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,250 shares of company stock valued at $4,495,661 over the last 90 days. 0.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Wynn Resorts by 3,000.0% in the 4th 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 last quarter. Sunbelt Securities Inc. increased its stake in Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Wynn Resorts in the 4th quarter valued at about $38,000. Kistler Tiffany Companies LLC increased its stake in Wynn Resorts by 66.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 375 shares of the casino operator’s stock valued at $40,000 after buying an additional 150 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Wynn Resorts by 1,083.8% in the 4th quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock valued at $40,000 after buying an additional 401 shares during the last quarter. Institutional investors and hedge funds own 61.88% of the company’s stock.

About Wynn Resorts

(Get Free Report)

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.

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