Wynn Resorts (NASDAQ:WYNN) Rating Lowered to Hold at Argus

Wynn Resorts (NASDAQ:WYNN) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat reports.

Several other research firms have also recently issued reports on WYNN. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Barclays cut their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $118.17.

Wynn Resorts Stock Up 3.1 %

Shares of NASDAQ:WYNN opened at $81.58 on Wednesday. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The firm’s 50 day moving average price is $82.24 and its 200 day moving average price is $87.26. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, equities analysts anticipate that Wynn Resorts will post 5.17 EPS for the current year.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta bought 300,000 shares of the company’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $70.37 per share, for a total transaction of $21,111,000.00. Following the transaction, the insider now directly owns 12,900,000 shares in the company, valued at $907,773,000. This trade represents a 2.38 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 438,700 shares of company stock valued at $31,300,943 in the last ninety days. Insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of institutional investors have recently modified their holdings of WYNN. Fifth Third Bancorp increased its position in Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after purchasing an additional 119 shares during the last quarter. Venturi Wealth Management LLC grew its position in Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after acquiring an additional 122 shares during the period. BOKF NA raised its holdings in shares of Wynn Resorts by 3.9% in the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after purchasing an additional 132 shares during the period. Snowden Capital Advisors LLC increased its position in Wynn Resorts by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock worth $223,000 after purchasing an additional 138 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Wynn Resorts by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator’s stock worth $2,681,000 after buying an additional 142 shares during the period. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.