Wynn Resorts (NASDAQ:WYNN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Wynn Resorts (NASDAQ:WYNN) had its price target lifted by equities researchers at The Goldman Sachs Group from $124.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the casino operator’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 12.49% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Mizuho lifted their price target on shares of Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, August 11th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Barclays lifted their price objective on shares of Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Finally, UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $147.00 in a report on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.33.

Wynn Resorts Trading Up 1.0%

NASDAQ WYNN opened at $133.34 on Wednesday. The company has a fifty day simple moving average of $118.74 and a 200 day simple moving average of $99.21. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $134.23. The company has a market cap of $13.86 billion, a P/E ratio of 40.04, a PEG ratio of 6.72 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business posted $1.12 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total value of $554,750.00. Following the sale, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Wynn Resorts by 19.4% in the third quarter. GAMMA Investing LLC now owns 4,549 shares of the casino operator’s stock worth $584,000 after purchasing an additional 738 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock worth $70,138,000 after purchasing an additional 737,234 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in shares of Wynn Resorts by 1,848.5% in the second quarter. Hudson Bay Capital Management LP now owns 83,982 shares of the casino operator’s stock worth $7,867,000 after purchasing an additional 79,672 shares in the last quarter. Nomura Holdings Inc. increased its stake in shares of Wynn Resorts by 2.6% in the second quarter. Nomura Holdings Inc. now owns 15,811 shares of the casino operator’s stock worth $1,481,000 after purchasing an additional 395 shares in the last quarter. Finally, Hollencrest Capital Management increased its stake in shares of Wynn Resorts by 18.3% in the second quarter. Hollencrest Capital Management now owns 1,537 shares of the casino operator’s stock worth $144,000 after purchasing an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.