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

Wynn Resorts (NASDAQ:WYNN) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts have also issued research reports about the company. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Thursday, May 23rd. Morgan Stanley dropped their price objective on Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Macquarie reiterated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group cut their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $113.73.

Wynn Resorts Stock Performance

Shares of WYNN stock traded up $1.05 during trading hours on Tuesday, reaching $80.00. The company had a trading volume of 2,464,134 shares, compared to its average volume of 1,926,834. The stock has a fifty day moving average of $78.74 and a 200-day moving average of $90.17. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.93 and a beta of 1.80. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced 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 net margin of 12.22% and a negative return on equity of 53.84%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Wynn Resorts will post 5.55 EPS for the current year.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

Several hedge funds have recently bought and sold shares of WYNN. Empirical Finance LLC lifted its position in shares of 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 buying an additional 114 shares during the last quarter. EntryPoint Capital LLC lifted its position in Wynn Resorts by 7.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Wynn Resorts by 8.5% during the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after buying an additional 120 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after buying an additional 149 shares during the period. Finally, Garde Capital Inc. grew its position in shares of Wynn Resorts by 10.1% in the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock worth $177,000 after buying an additional 160 shares during the last quarter. 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.