Wynn Resorts, Limited (NASDAQ:WYNN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Wynn Resorts’ second-quarter earnings of $1.18 per share beat the Zacks Consensus Estimate by 8.3% and were up 10.3% year over year on higher revenues. Revenues of $1.53 billion beat the consensus mark by 5.3% and grew 44.5% year over year. Notably, the company failed to fully capitalize on the rebound in Macau gaming revenues in the quarter, given somewhat lower-than-expected results at Wynn Palace. Though foot traffic has been low at Wynn Palace of late, it is poised to witness increased visits from tourists and leisure gamblers over the long term. Meanwhile, Wynn Resorts’ shares outpaced the industry in the past six months. Further, the company’s strong brand recognition, higher non-gaming revenues along with an improving economy and growing tourism in Las Vegas should drive the top line. Yet, fears of another corruption crackdown by the authorities and high debt burden raises concern.”

A number of other brokerages have also issued reports on WYNN. UBS AG lowered shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $134.00 price objective (up previously from $128.00) on shares of Wynn Resorts, Limited in a research note on Wednesday, July 26th. Telsey Advisory Group lowered shares of Wynn Resorts, Limited from an “outperform” rating to a “market perform” rating and set a $150.00 price objective on the stock. in a research note on Wednesday, July 26th. Union Gaming Research reiterated a “hold” rating on shares of Wynn Resorts, Limited in a research note on Wednesday, July 26th. Finally, Instinet reiterated a “neutral” rating and issued a $137.00 price objective (up previously from $130.00) on shares of Wynn Resorts, Limited in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $125.62.

Shares of Wynn Resorts, Limited (WYNN) traded up 1.97% on Monday, hitting $130.02. The stock had a trading volume of 949,699 shares. The firm has a 50 day moving average of $133.80 and a 200-day moving average of $117.30. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 48.66 and a beta of 1.72. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $139.67.

Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, July 25th. The casino operator reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 205.76%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $1.07 EPS. Wynn Resorts, Limited’s revenue for the quarter was up 44.5% compared to the same quarter last year. Equities analysts predict that Wynn Resorts, Limited will post $4.92 earnings per share for the current year.

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In other news, Director Clark T. Jr. Randt sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $129.00, for a total value of $387,000.00. Following the transaction, the director now directly owns 7,711 shares of the company’s stock, valued at $994,719. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John J. Hagenbuch sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $128.40, for a total transaction of $147,660.00. Following the completion of the transaction, the director now directly owns 11,662 shares in the company, valued at $1,497,400.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,309 shares of company stock worth $9,693,891. Insiders own 13.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in Wynn Resorts, Limited by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 180,152 shares of the casino operator’s stock valued at $15,587,000 after buying an additional 1,516 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Wynn Resorts, Limited by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,760 shares of the casino operator’s stock valued at $239,000 after buying an additional 160 shares in the last quarter. Teachers Advisors LLC increased its position in Wynn Resorts, Limited by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 88,872 shares of the casino operator’s stock valued at $7,688,000 after buying an additional 5,198 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Wynn Resorts, Limited during the fourth quarter valued at $498,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Wynn Resorts, Limited during the fourth quarter valued at $222,000. 75.06% of the stock is currently owned by hedge funds and other institutional investors.

About Wynn Resorts, Limited

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

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Analyst Recommendations for Wynn Resorts, Limited (NASDAQ:WYNN)

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