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

Wynn Resorts (NASDAQ:WYNN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research analysts also recently weighed in on WYNN. Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Mizuho increased their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Morgan Stanley reduced their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Barclays raised their price objective on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $87.38 on Wednesday. The company has a market capitalization of $9.30 billion, a PE ratio of 20.76, a P/E/G ratio of 2.35 and a beta of 1.77. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a 50 day moving average price of $85.43 and a 200-day moving average price of $88.54.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its stake in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares during the period. Geode Capital Management LLC grew its position in Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock valued at $209,120,000 after acquiring an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. grew its position in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock valued at $145,059,000 after acquiring an additional 139,270 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock worth $139,300,000 after acquiring an additional 228,000 shares during the period. Institutional investors and hedge funds 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.