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

Wynn Resorts (NASDAQ:WYNN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also issued reports on WYNN. Morgan Stanley lifted their target price on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Bank Of America (Bofa) upped their target price on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Mizuho began coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Finally, UBS Group reduced their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $122.93.

Wynn Resorts Stock Up 1.5 %

NASDAQ WYNN traded up $1.44 during trading on Thursday, hitting $97.19. The stock had a trading volume of 2,039,732 shares, compared to its average volume of 1,824,634. The company has a market capitalization of $10.89 billion, a PE ratio of 16.25 and a beta of 1.91. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $113.50. The firm has a 50 day moving average price of $100.08 and a 200 day moving average price of $95.40.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts will post 5.37 earnings per share for the current year.

Insider Activity

In other news, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the sale, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Mulroy sold 960 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the sale, the director now owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. purchased a new position in Wynn Resorts during the third quarter worth about $210,000. Bank of New York Mellon Corp boosted its stake in shares of Wynn Resorts by 15.1% in the third quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock valued at $90,291,000 after buying an additional 128,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wynn Resorts by 21.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,071 shares of the casino operator’s stock worth $4,257,000 after acquiring an additional 8,220 shares during the period. IFM Investors Pty Ltd raised its position in Wynn Resorts by 3.3% in the third quarter. IFM Investors Pty Ltd now owns 19,036 shares of the casino operator’s stock worth $1,759,000 after acquiring an additional 600 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in Wynn Resorts in the third quarter valued at $280,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Company Profile

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.