Wynn Resorts (NASDAQ:WYNN) Raised to "Buy" at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN - Get Free Report) was upgraded by analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a $118.00 price objective on the casino operator's stock, up from their previous price objective of $105.00. Jefferies Financial Group's target price suggests a potential upside of 30.01% from the company's previous close.

WYNN has been the subject of a number of other reports. Wells Fargo & Company reduced their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus raised their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Finally, Macquarie reissued an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $120.58.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $2.71 during midday trading on Tuesday, reaching $90.76. 2,961,032 shares of the company traded hands, compared to its average volume of 2,922,238. The firm's 50 day simple moving average is $85.31 and its two-hundred day simple moving average is $87.26. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The firm has a market cap of $9.66 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.78 billion. As a group, research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought 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 approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by corporate insiders.

Institutional Trading of Wynn Resorts

Several institutional investors have recently made changes to their positions in the stock. Fisher Asset Management LLC grew its stake in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after buying an additional 1,644,965 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Wynn Resorts by 18.4% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the period. Geode Capital Management LLC grew its stake in shares of Wynn Resorts by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after buying an additional 26,792 shares during the period. Jefferies Financial Group Inc. grew its stake in shares of Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Wynn Resorts by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after buying an additional 228,000 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.