Wynn Resorts (NASDAQ:WYNN) Stock Rating Lowered by Argus

Wynn Resorts (NASDAQ:WYNN - Get Free Report) was downgraded by equities research analysts at Argus from a "buy" rating to a "hold" rating in a research report issued on Wednesday,Finviz reports.

Several other equities analysts also recently commented on the stock. Macquarie restated an "outperform" rating and issued a $115.00 price target on shares of Wynn Resorts in a research note on Friday, February 14th. Stifel Nicolaus boosted their price target 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 upped their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Monday, February 24th. Finally, StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.17.

Wynn Resorts Stock Performance

WYNN opened at $76.97 on Wednesday. The firm has a market capitalization of $8.17 billion, a PE ratio of 18.28, a PEG ratio of 2.35 and a beta of 1.53. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $107.81. The business's 50-day simple moving average is $82.58 and its 200 day simple moving average is $87.49.

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

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 5,025 shares of the firm's stock in a transaction on Friday, March 21st. The stock was purchased at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the acquisition, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip G. Satre bought 22,200 shares of the firm'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 purchase, the director now directly owns 34,195 shares of the company's stock, valued at $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. In the last quarter, insiders have purchased 438,700 shares of company stock worth $31,300,943. Insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brandywine Global Investment Management LLC bought a new stake in Wynn Resorts during the 4th quarter valued at $5,216,000. Alliancebernstein L.P. increased its position in shares of Wynn Resorts by 12.4% during the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after acquiring an additional 13,553 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Wynn Resorts during the 4th quarter valued at about $75,872,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $2,270,000. Finally, Empirical Asset Management LLC purchased a new position in shares of Wynn Resorts during the fourth quarter valued at approximately $903,000. Institutional investors 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.

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