Wynn Resorts (NASDAQ:WYNN) PT Raised to $125.00 at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its target price upped by research analysts at Wells Fargo & Company from $115.00 to $125.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 25.70% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Jefferies Financial Group reduced their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus reduced their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, Macquarie restated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $99.44 on Thursday. The company has a 50 day moving average price of $85.42 and a two-hundred day moving average price of $89.36. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a market capitalization of $11.14 billion, a PE ratio of 13.62, a PEG ratio of 2.68 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Wynn Resorts will post 5.44 earnings per share for the current year.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. Interval Partners LP lifted its stake in shares of Wynn Resorts by 999.0% during the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after buying an additional 364,432 shares during the last quarter. Renaissance Technologies LLC increased its position in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after acquiring an additional 303,033 shares during the period. Sequoia Financial Advisors LLC increased its position in Wynn Resorts by 6,720.4% during the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after acquiring an additional 253,761 shares during the period. Janus Henderson Group PLC increased its position in Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares during the period. Finally, Vanguard Group Inc. increased its position in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.