Morgan Stanley Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $103.00

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price target reduced by equities research analysts at Morgan Stanley from $105.00 to $103.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the casino operator's stock. Morgan Stanley's price objective suggests a potential upside of 16.79% from the stock's previous close.

A number of other research analysts have also recently weighed in on WYNN. Barclays raised their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Stifel Nicolaus upped their target price on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Mizuho raised their price target on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Macquarie reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and boosted their target price for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.58.

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Wynn Resorts Stock Performance

WYNN stock traded down $2.91 during trading on Monday, reaching $88.19. 2,242,891 shares of the company were exchanged, compared to its average volume of 2,844,273. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a market cap of $9.38 billion, a P/E ratio of 20.95, a PEG ratio of 2.35 and a beta of 1.76. The stock's 50 day moving average price is $85.35 and its 200 day moving average price is $87.66.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. As a group, equities research analysts forecast that Wynn Resorts will post 5.17 EPS for the current year.

Insider Activity

In other news, Director Philip G. Satre bought 22,200 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock worth $49,000 after purchasing an additional 467 shares during the period. Raymond James & Associates lifted its position in Wynn Resorts by 16.2% during the third quarter. Raymond James & Associates now owns 123,006 shares of the casino operator's stock valued at $11,794,000 after buying an additional 17,161 shares in the last quarter. International Assets Investment Management LLC grew its stake in Wynn Resorts by 24,083.8% during the third quarter. International Assets Investment Management LLC now owns 68,682 shares of the casino operator's stock worth $6,585,000 after buying an additional 68,398 shares during the period. Allworth Financial LP increased its position in shares of Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock worth $86,000 after acquiring an additional 133 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wynn Resorts by 63.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,583 shares of the casino operator's stock valued at $740,000 after acquiring an additional 2,954 shares during the period. 88.64% 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.