Wynn Resorts (NASDAQ:WYNN) Given New $119.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price target decreased by Barclays from $125.00 to $119.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price would suggest a potential upside of 39.47% from the company’s previous close.

WYNN has been the topic of several other research reports. Wells Fargo & Company lifted their price target on shares of Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Trading Down 1.6 %

NASDAQ:WYNN opened at $85.32 on Tuesday. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 2.48 and a beta of 1.80. The firm’s fifty day simple moving average is $90.38 and its 200 day simple moving average is $88.69. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. On average, analysts predict that Wynn Resorts will post 5.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the 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 sale, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. Interval Partners LP grew its position in Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after purchasing an additional 364,432 shares during the last quarter. Renaissance Technologies LLC grew its position in Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after purchasing an additional 253,761 shares during the last quarter. Janus Henderson Group PLC grew its position in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after purchasing an additional 204,852 shares during the last quarter. Finally, Regal Partners Ltd grew its position in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.