Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $138.00 by Analysts at Citigroup

Wynn Resorts (NASDAQ:WYNN) had its target price hoisted by investment analysts at Citigroup from $132.00 to $138.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Citigroup’s price objective would indicate a potential upside of 44.59% from the stock’s current price.

A number of other equities research analysts have also recently commented on WYNN. Susquehanna lifted their price objective on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Bank Of America (Bofa) lifted their price objective 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. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company increased their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Mizuho assumed coverage on shares of Wynn Resorts in a research report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.64.

Wynn Resorts Stock Down 1.8 %

WYNN stock traded down $1.79 during midday trading on Wednesday, reaching $95.44. The stock had a trading volume of 3,561,074 shares, compared to its average volume of 1,812,510. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $113.50. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 15.92 and a beta of 1.91. The business has a fifty day simple moving average of $100.38 and a two-hundred day simple moving average of $95.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. Wynn Resorts’s revenue for the quarter was up 30.9% compared to the same quarter last year. On average, equities analysts predict that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Craig Scott Billings sold 19,235 shares of the 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 completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the transaction, the chief executive officer now owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Mulroy sold 960 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock worth $2,850,282 over the last ninety days. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently bought and sold shares of WYNN. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter valued at approximately $157,305,000. Sequoia Financial Advisors LLC grew its stake in Wynn Resorts by 20,031.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock valued at $46,807,000 after buying an additional 504,003 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Wynn Resorts by 20.7% during the third quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock worth $133,908,000 after acquiring an additional 248,820 shares during the period. ING Groep NV grew its position in shares of Wynn Resorts by 1,657.3% in the third quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock valued at $24,023,000 after purchasing an additional 245,165 shares during the last quarter. Finally, Eminence Capital LP acquired a new stake in Wynn Resorts during the 4th quarter worth approximately $15,089,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.