Wynn Resorts (NASDAQ:WYNN) PT Raised to $124.00

Wynn Resorts (NASDAQ:WYNN) had its price target boosted by analysts at Barclays from $123.00 to $124.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price would indicate a potential upside of 28.31% from the company’s previous close.

Other equities analysts also recently issued reports about the company. 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 report on Tuesday, February 6th. Mizuho initiated coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective on the stock. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley boosted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Bank Of America (Bofa) boosted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.43.

Wynn Resorts Stock Up 0.6 %

Shares of Wynn Resorts stock traded up $0.54 on Friday, reaching $96.64. The company’s stock had a trading volume of 82,136 shares, compared to its average volume of 1,789,696. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 16.16 and a beta of 1.93. The firm’s fifty day simple moving average is $102.49 and its two-hundred day simple moving average is $94.84. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned ($1.23) EPS. The company’s quarterly revenue was up 83.1% compared to the same quarter last year. As a group, research analysts predict that Wynn Resorts will post 5.37 EPS for the current year.

Insider Buying and Selling

In related 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 value of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. Insiders have sold a total of 26,578 shares of company stock valued at $2,850,282 over the last quarter. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. Vanguard Group Inc. increased its position in shares of Wynn Resorts by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,424,780 shares of the casino operator’s stock valued at $720,104,000 after acquiring an additional 100,246 shares during the period. BlackRock Inc. increased its position in shares of Wynn Resorts by 0.4% in the 1st quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock valued at $545,957,000 after acquiring an additional 30,460 shares during the period. Fisher Asset Management LLC increased its position in shares of Wynn Resorts by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock valued at $358,183,000 after acquiring an additional 20,091 shares during the period. State Street Corp increased its position in shares of Wynn Resorts by 4.8% in the 2nd quarter. State Street Corp now owns 3,910,031 shares of the casino operator’s stock valued at $412,938,000 after acquiring an additional 180,839 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Wynn Resorts by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 2,278,522 shares of the casino operator’s stock valued at $254,444,000 after acquiring an additional 54,183 shares during the period. Hedge funds and other 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.