Wynn Resorts, Limited (NASDAQ:WYNN)‘s stock had its “hold” rating restated by equities researchers at Union Gaming Research in a note issued to investors on Wednesday, July 26th.
A number of other equities research analysts have also weighed in on WYNN. Argus upgraded shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating and raised their price objective for the company from $119.80 to $135.00 in a report on Wednesday, April 5th. Instinet restated a “neutral” rating and issued a $137.00 price objective (up from $130.00) on shares of Wynn Resorts, Limited in a report on Monday, June 19th. BidaskClub lowered shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Vetr lowered shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating and set a $120.45 price objective on the stock. in a report on Tuesday, April 4th. Finally, Bank of America Corporation restated a “neutral” rating and issued a $140.00 price objective (up from $135.00) on shares of Wynn Resorts, Limited in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Wynn Resorts, Limited presently has an average rating of “Hold” and a consensus target price of $125.62.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded up 0.93% during trading on Wednesday, reaching $127.51. 1,034,676 shares of the company were exchanged. The firm has a 50-day moving average price of $133.80 and a 200-day moving average price of $117.30. The stock has a market capitalization of $13.00 billion, a P/E ratio of 47.72 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 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue was up 44.5% compared to the same quarter last year. Equities research analysts predict that Wynn Resorts, Limited will post $4.92 earnings per share for the current fiscal year.
In related news, EVP Kimmarie Sinatra sold 22,624 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $129.12, for a total transaction of $2,921,210.88. Following the sale, the executive vice president now owns 221,067 shares of the company’s stock, valued at $28,544,171.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Matt Maddox sold 44,309 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the sale, the president now directly owns 344,895 shares in the company, valued at approximately $46,336,643.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,309 shares of company stock worth $9,693,891. 13.20% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Wynn Resorts, Limited by 83.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,017 shares of the casino operator’s stock worth $117,000 after buying an additional 462 shares during the last quarter. FNY Partners Fund LP boosted its position in shares of Wynn Resorts, Limited by 5,400.0% in the first quarter. FNY Partners Fund LP now owns 1,100 shares of the casino operator’s stock worth $126,000 after buying an additional 1,080 shares during the last quarter. Reilly Financial Advisors LLC boosted its position in shares of Wynn Resorts, Limited by 1,000.0% in the second quarter. Reilly Financial Advisors LLC now owns 1,100 shares of the casino operator’s stock worth $148,000 after buying an additional 1,000 shares during the last quarter. Mercer Capital Advisers Inc. acquired a new position in shares of Wynn Resorts, Limited during the first quarter worth about $143,000. Finally, Financial Architects Inc boosted its position in shares of Wynn Resorts, Limited by 4.2% in the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock worth $168,000 after buying an additional 50 shares during the last quarter. Institutional investors own 75.33% of the company’s stock.
Wynn Resorts, Limited Company Profile
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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