Wynn Resorts (NASDAQ:WYNN) Cut to “Hold” at Argus

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

Several other analysts have also recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Macquarie reaffirmed an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Morgan Stanley dropped their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Finally, Barclays decreased their price objective on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $118.17.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $76.97 on Wednesday. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $107.81. The company’s fifty day simple moving average is $82.58 and its two-hundred day simple moving average is $87.49.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results 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. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Equities research analysts anticipate that Wynn Resorts will post 5.17 EPS for the current year.

Insider Activity

In other news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta bought 11,475 shares of Wynn Resorts stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $84.93 per share, with a total value of $974,571.75. Following the completion of the acquisition, the insider now owns 12,600,000 shares of the company’s stock, valued at $1,070,118,000. The trade was a 0.09 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 438,700 shares of company stock valued at $31,300,943 in the last 90 days. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. Norges Bank purchased a new stake in shares of Wynn Resorts in the fourth quarter worth approximately $117,352,000. Jericho Capital Asset Management L.P. bought a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $101,375,000. Raymond James Financial Inc. bought a new stake in Wynn Resorts during the fourth quarter valued at about $75,872,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Wynn Resorts by 108.5% during the fourth quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator’s stock valued at $73,118,000 after buying an additional 441,558 shares during the last quarter. 88.64% of the stock is currently owned by 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.