Wynn Resorts (NASDAQ:WYNN) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a report issued on Wednesday morning.

A number of other analysts have also weighed in on WYNN. 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 report on Tuesday, February 13th. Macquarie increased their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an outperform rating in a research report on Friday, February 9th. UBS Group lowered their price objective on Wynn Resorts from $117.00 to $108.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Finally, Barclays lifted their price target on shares of Wynn Resorts from $108.00 to $117.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $119.62.

Wynn Resorts Trading Up 1.2 %

Shares of WYNN opened at $101.79 on Wednesday. The firm has a market cap of $11.41 billion, a P/E ratio of 17.02 and a beta of 1.94. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $117.86. The company’s 50-day moving average price is $100.37 and its 200 day moving average price is $93.78.

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

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s payout ratio is currently 16.72%.

Insider Activity

In related news, EVP Ellen F. Whittemore sold 4,180 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 $398,186.80. Following the transaction, the executive vice president now owns 74,144 shares of the company’s stock, valued at $7,062,957.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ellen F. Whittemore sold 4,180 shares of Wynn Resorts 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 $398,186.80. Following the completion of the sale, the executive vice president now owns 74,144 shares in the company, valued at $7,062,957.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,828 shares of company stock valued at $7,345,942. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Horizon Investments LLC grew its position in Wynn Resorts by 6.7% during the second quarter. Horizon Investments LLC now owns 1,731 shares of the casino operator’s stock worth $183,000 after buying an additional 108 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after acquiring an additional 109 shares during the period. Rafferty Asset Management LLC raised its holdings in Wynn Resorts by 1.2% during the fourth quarter. Rafferty Asset Management LLC now owns 9,983 shares of the casino operator’s stock worth $910,000 after purchasing an additional 123 shares during the last quarter. Federated Hermes Inc. raised its holdings in Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Wynn Resorts by 3.6% during the third quarter. Captrust Financial Advisors now owns 4,240 shares of the casino operator’s stock worth $267,000 after purchasing an additional 147 shares in the last quarter. 68.87% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

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.