Stifel Nicolaus Increases Wynn Resorts (NASDAQ:WYNN) Price Target to $138.00

Wynn Resorts (NASDAQ:WYNN) had its target price increased by Stifel Nicolaus from $135.00 to $138.00 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. Stifel Nicolaus’ price objective suggests a potential upside of 45.62% from the company’s current price.

Other analysts also recently issued research reports about the stock. Barclays lifted their target price on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Morgan Stanley increased their target price on shares of Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company upped their price objective on Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Finally, UBS Group lowered their price objective on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $122.64.

Wynn Resorts Stock Down 2.5 %

Shares of Wynn Resorts stock traded down $2.46 during mid-day trading on Wednesday, hitting $94.77. The stock had a trading volume of 1,699,246 shares, compared to its average volume of 1,791,100. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $113.50. The firm has a market cap of $10.62 billion, a P/E ratio of 15.96 and a beta of 1.91. The firm has a 50-day moving average of $100.38 and a two-hundred day moving average of $95.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 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 30.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. Sell-side analysts expect that Wynn Resorts will post 5.37 earnings per share for the current year.

Insider Buying and Selling at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were 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 directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Julie Cameron-Doe sold 6,383 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the transaction, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the business’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 transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. In the last three months, insiders sold 26,578 shares of company stock worth $2,850,282. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its stake in Wynn Resorts by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after acquiring an additional 109 shares during the period. Fifth Third Bancorp increased its holdings in shares of Wynn Resorts by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock worth $145,000 after acquiring an additional 111 shares during the period. Empirical Finance LLC boosted its stake in Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after purchasing an additional 114 shares during the period. Federated Hermes Inc. increased its stake in shares of Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after purchasing an additional 140 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Wynn Resorts by 36.3% during the first quarter. Venturi Wealth Management LLC now owns 597 shares of the casino operator’s stock worth $61,000 after buying an additional 159 shares during the period. 68.87% of the stock is owned by institutional investors and hedge funds.

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.