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

StockNews.com cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report report published on Wednesday.

WYNN has been the topic of several other research reports. Susquehanna lifted their target price on Wynn Resorts from $105.00 to $115.00 and gave the company a positive rating in a research note on Thursday, February 8th. Macquarie lifted their price objective on shares of Wynn Resorts from $122.00 to $128.00 and gave the company an outperform rating in a research note on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the stock an overweight rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Finally, Barclays upped their price target on shares of Wynn Resorts from $108.00 to $117.00 and gave the stock an overweight rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of Moderate Buy and an average target price of $119.62.

Wynn Resorts Stock Up 1.2 %

WYNN stock opened at $101.79 on Wednesday. The stock has a market cap of $11.41 billion, a PE ratio of 17.02 and a beta of 1.94. The firm’s 50-day simple moving average is $100.37 and its 200 day simple moving average is $93.78. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, topping the consensus estimate of $1.15 by $0.76. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. Wynn Resorts’s quarterly revenue was up 83.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.23) EPS. Equities analysts forecast that Wynn Resorts will post 5.27 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.98%. The ex-dividend date was Friday, February 16th. Wynn Resorts’s payout ratio is 16.72%.

Insider Buying and Selling at Wynn Resorts

In other news, EVP Ellen F. Whittemore sold 4,180 shares of Wynn Resorts stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $95.26, for a total transaction of $398,186.80. Following the transaction, the executive vice president now owns 74,144 shares in the company, valued at $7,062,957.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Wynn Resorts news, EVP Ellen F. Whittemore sold 4,180 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $398,186.80. Following the completion of the sale, the executive vice president now owns 74,144 shares in the company, valued at approximately $7,062,957.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Craig Scott Billings sold 11,451 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total transaction of $1,090,822.26. Following the transaction, the chief executive officer now owns 264,830 shares in the company, valued at $25,227,705.80. The disclosure for this sale can be found here. Insiders have sold a total of 73,828 shares of company stock valued at $7,345,942 in the last three months. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in WYNN. Blue Trust Inc. increased its stake in shares of Wynn Resorts by 3,000.0% during the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. Point72 Europe London LLP bought a new position in Wynn Resorts during the fourth quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new position in Wynn Resorts during the fourth quarter valued at about $27,000. Sunbelt Securities Inc. boosted its stake in shares of Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Wynn Resorts during the 4th quarter worth about $38,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

About Wynn Resorts

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.