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

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

Several other equities analysts also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an overweight rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective 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. UBS Group reduced their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Morgan Stanley upped their price objective on shares of Wynn Resorts from $99.00 to $107.00 and gave the company an equal weight rating in a research note on Tuesday, February 13th. Finally, Barclays upped their price objective on shares of Wynn Resorts from $108.00 to $117.00 and gave the company an overweight rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of Moderate Buy and an average price target of $119.62.

Wynn Resorts Price Performance

WYNN stock opened at $102.23 on Wednesday. The company’s 50 day simple moving average is $100.69 and its 200-day simple moving average is $93.89. The firm has a market capitalization of $11.46 billion, a PE ratio of 17.10 and a beta of 1.94. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $117.86.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. The business 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%. The company’s quarterly revenue was up 83.1% on a year-over-year basis. During the same period in the prior year, the business earned ($1.23) earnings per share. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.27 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Tuesday, February 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, February 16th. Wynn Resorts’s dividend payout ratio is presently 16.72%.

Insider Activity

In related news, EVP Ellen F. Whittemore sold 654 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total transaction of $61,410.60. Following the completion of the sale, the executive vice president now directly owns 90,025 shares of the company’s stock, valued at approximately $8,453,347.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Ellen F. Whittemore sold 654 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $93.90, for a total transaction of $61,410.60. Following the completion of the sale, the executive vice president now directly owns 90,025 shares of the company’s stock, valued at approximately $8,453,347.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at $33,253,632. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,828 shares of company stock valued at $7,345,942. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in 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 acquiring an additional 270 shares in the last quarter. Point72 Europe London LLP acquired a new position in Wynn Resorts during the 4th quarter worth $26,000. ICA Group Wealth Management LLC acquired a new position in Wynn Resorts during the 4th quarter worth $27,000. Sunbelt Securities Inc. grew its holdings in 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 acquired a new position in shares of Wynn Resorts in the 4th quarter valued at about $38,000. 68.87% of the stock is owned by institutional investors and hedge funds.

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.