Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $99.00 by Analysts at Barclays

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its target price lowered by stock analysts at Barclays from $116.00 to $99.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the casino operator's stock. Barclays's price target would suggest a potential upside of 28.83% from the stock's previous close.

WYNN has been the topic of several other reports. Mizuho increased their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Macquarie reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus lifted their price target on Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $118.17.

Wynn Resorts Trading Up 2.5 %

NASDAQ WYNN traded up $1.88 on Tuesday, hitting $76.84. The company's stock had a trading volume of 1,132,422 shares, compared to its average volume of 2,465,209. The company's 50-day simple moving average is $82.65 and its 200 day simple moving average is $87.56. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a market cap of $8.16 billion, a P/E ratio of 18.25, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, research analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Tilman J. Fertitta bought 5,025 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, with a total value of $406,974.75. Following the transaction, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Philip G. Satre acquired 22,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 438,700 shares of company stock worth $31,300,943 in the last 90 days. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of the business. New Wave Wealth Advisors LLC acquired a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. boosted its holdings in Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts in the 3rd quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Wynn Resorts by 3,408.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock worth $35,000 after buying an additional 409 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Wynn Resorts in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 88.64% 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.

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