Wynn Resorts (NASDAQ:WYNN) PT Raised to $124.00

Wynn Resorts (NASDAQ:WYNN) had its target price increased by research analysts at Barclays from $123.00 to $124.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s price objective suggests a potential upside of 28.31% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Bank Of America (Bofa) lifted their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Wells Fargo & Company lifted their price target on shares of Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Susquehanna boosted their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.43.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.54 during mid-day trading on Friday, reaching $96.64. 82,136 shares of the stock were exchanged, compared to its average volume of 1,789,696. Wynn Resorts has a 1-year low of $81.65 and a 1-year high of $117.86. The business’s fifty day simple moving average is $102.49 and its 200 day simple moving average is $94.84. The stock has a market capitalization of $10.83 billion, a PE ratio of 16.16 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 83.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.23) EPS. On average, analysts anticipate that Wynn Resorts will post 5.37 EPS for the current year.

Insider Transactions at Wynn Resorts

In other news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the sale, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The disclosure for this sale can be found here. In the last three months, insiders sold 26,578 shares of company stock valued at $2,850,282. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Horizon Investments LLC raised its holdings in shares of Wynn Resorts by 6.7% in the 2nd quarter. Horizon Investments LLC now owns 1,731 shares of the casino operator’s stock worth $183,000 after purchasing an additional 108 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock worth $2,542,000 after purchasing an additional 109 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Wynn Resorts by 1.2% in the 4th quarter. Rafferty Asset Management LLC now owns 9,983 shares of the casino operator’s stock worth $910,000 after purchasing an additional 123 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Wynn Resorts by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 4,240 shares of the casino operator’s stock worth $267,000 after purchasing an additional 147 shares in the last quarter. 68.87% of the stock is currently owned by 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.