Wynn Resorts (NASDAQ:WYNN) Given New $99.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price objective trimmed by Barclays from $116.00 to $99.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has an overweight rating on the casino operator’s stock.

A number of other equities analysts have also recently issued reports on the company. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Macquarie reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research note on Friday, February 14th. Mizuho lifted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.17.

Wynn Resorts Trading Up 3.1 %

Wynn Resorts stock opened at $81.58 on Tuesday. The company has a market cap of $8.66 billion, a PE ratio of 19.38, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $107.81. The company’s 50-day moving average is $82.24 and its two-hundred day moving average is $87.26.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Research analysts forecast that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.23%. Wynn Resorts’s payout ratio is currently 23.75%.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was bought at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. The trade was a 0.78 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 438,700 shares of company stock valued at $31,300,943 in the last three months. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts in the third quarter valued at about $31,000. Synovus Financial Corp bought a new stake in shares of Wynn Resorts in the third quarter valued at approximately $202,000. Franklin Resources Inc. grew its position in Wynn Resorts by 0.5% during the third quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator’s stock worth $26,088,000 after buying an additional 1,165 shares in the last quarter. Principal Financial Group Inc. increased its stake in Wynn Resorts by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock worth $10,361,000 after acquiring an additional 2,001 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Wynn Resorts by 91.9% during the 4th quarter. GAMMA Investing LLC now owns 2,885 shares of the casino operator’s stock worth $249,000 after purchasing an additional 1,382 shares in the last quarter. Institutional investors and hedge funds own 88.64% 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.