StockNews.com Downgrades Wynn Resorts (NASDAQ:WYNN) to Hold

Wynn Resorts (NASDAQ:WYNN) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other analysts also recently weighed in on WYNN. Jefferies Financial Group decreased their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company lowered their price objective on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $113.73.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $78.78 on Tuesday. The stock’s 50 day moving average is $78.65 and its 200 day moving average is $90.02. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The firm has a market cap of $8.74 billion, a P/E ratio of 10.85, a P/E/G ratio of 2.04 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that Wynn Resorts will post 5.44 earnings per share for the current fiscal year.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by insiders.

Institutional Trading of Wynn Resorts

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Wynn Resorts by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock worth $357,883,000 after buying an additional 16,799 shares during the last quarter. Norges Bank purchased a new position in shares of Wynn Resorts in the 4th quarter worth approximately $157,305,000. Renaissance Technologies LLC increased its position in shares of Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares during the last quarter. Institutional investors own 68.87% 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.