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

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

Other analysts also recently issued research reports about the company. Bank Of America (Bofa) upped their target price on Wynn Resorts from $95.00 to $105.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. upped their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Wells Fargo & Company upped their target price on Wynn Resorts from $122.00 to $124.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. UBS Group lowered their target price on Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Finally, Barclays upped their target price on 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 seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $119.62.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $102.23 on Wednesday. The business’s 50-day simple moving average is $100.69 and its two-hundred day simple moving average is $93.89. The company has a market cap of $11.46 billion, a PE ratio of 17.10 and a beta of 1.94. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results 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 business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company’s quarterly revenue was up 83.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.23) EPS. As a group, analysts predict that Wynn Resorts will post 5.27 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Ellen F. Whittemore sold 4,180 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was 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 directly owns 74,144 shares in the company, valued at $7,062,957.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,828 shares of company stock valued at $7,345,942. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of Wynn Resorts by 130.9% in the fourth quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock valued at $13,101,000 after purchasing an additional 81,338 shares in the last quarter. Nuveen Asset Management LLC grew its position in Wynn Resorts by 82.5% in the second quarter. Nuveen Asset Management LLC now owns 777,860 shares of the casino operator’s stock worth $82,150,000 after acquiring an additional 351,537 shares during the period. Keybank National Association OH grew its position in Wynn Resorts by 8.1% in the third quarter. Keybank National Association OH now owns 249,716 shares of the casino operator’s stock worth $23,076,000 after acquiring an additional 18,802 shares during the period. Kestra Advisory Services LLC grew its position in Wynn Resorts by 11.4% in the third quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator’s stock worth $573,000 after acquiring an additional 633 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Wynn Resorts in the second quarter worth approximately $26,719,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

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.