StockNews.com Lowers 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 on Tuesday.

A number of other brokerages have also recently weighed in on WYNN. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, Macquarie reiterated an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.73.

Wynn Resorts Stock Up 1.3 %

WYNN traded up $1.05 during trading hours on Tuesday, reaching $80.00. 2,464,134 shares of the company’s stock traded hands, compared to its average volume of 1,926,834. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a market capitalization of $8.97 billion, a PE ratio of 10.96, a PEG ratio of 1.93 and a beta of 1.80. The firm has a 50-day moving average price of $78.74 and a 200 day moving average price of $90.17.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 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 for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the firm earned $0.91 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that Wynn Resorts will post 5.55 EPS for the current fiscal year.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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 in the company, valued at $447,894.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Principal Securities Inc. bought a new position in Wynn Resorts during the fourth quarter valued at $100,000. Avantax Advisory Services Inc. boosted its holdings in Wynn Resorts by 35.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,173 shares of the casino operator’s stock valued at $745,000 after purchasing an additional 2,127 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Wynn Resorts by 20.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 56,922 shares of the casino operator’s stock worth $5,186,000 after purchasing an additional 9,751 shares during the period. Panagora Asset Management Inc. acquired a new position in Wynn Resorts in the 4th quarter worth about $1,062,000. Finally, Norges Bank purchased a new stake in shares of Wynn Resorts during the fourth quarter worth about $157,305,000. 68.87% of the stock is 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.