Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $122.00 by Analysts at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN - Free Report) had its target price cut by Wells Fargo & Company from $125.00 to $122.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the casino operator's stock.

Several other research firms have also recently commented on WYNN. Morgan Stanley lifted their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Susquehanna upped their price target 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. Barclays decreased their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group dropped their price objective on Wynn Resorts from $111.00 to $96.00 and set a "hold" rating for the company in a report on Thursday, July 11th. Four 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $115.71.

Wynn Resorts Stock Down 9.3 %

Shares of NASDAQ:WYNN traded down $8.93 during trading on Tuesday, reaching $86.72. The stock had a trading volume of 10,676,997 shares, compared to its average volume of 2,155,284. The stock has a market cap of $9.63 billion, a P/E ratio of 10.79, a PEG ratio of 2.48 and a beta of 1.80. The business has a fifty day moving average price of $90.19 and a 200-day moving average price of $88.75. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the company earned $0.99 EPS. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Wynn Resorts will post 5.42 EPS for the current year.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company's stock.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. American Assets Investment Management LLC grew its stake in Wynn Resorts by 38.6% during the 3rd quarter. American Assets Investment Management LLC now owns 31,310 shares of the casino operator's stock valued at $3,002,000 after purchasing an additional 8,718 shares in the last quarter. American Assets Capital Advisers LLC boosted its stake in shares of Wynn Resorts by 221.9% during the 3rd quarter. American Assets Capital Advisers LLC now owns 213,001 shares of the casino operator's stock valued at $20,423,000 after buying an additional 146,823 shares during the last quarter. American Assets Inc. acquired a new stake in shares of Wynn Resorts during the third quarter worth approximately $642,000. Crystal Rock Capital Management bought a new stake in shares of Wynn Resorts in the third quarter worth $719,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator's stock valued at $18,098,000 after acquiring an additional 7,850 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

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.