Wynn Resorts (NASDAQ:WYNN) PT Raised to $138.00 at Citigroup

Wynn Resorts (NASDAQ:WYNN) had its price objective lifted by analysts at Citigroup from $132.00 to $138.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Citigroup’s price objective points to a potential upside of 44.59% from the company’s previous close.

Several other brokerages also recently weighed in on WYNN. Barclays increased their price target on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Stifel Nicolaus raised their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho assumed coverage on Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective on the stock. Macquarie raised their price target on Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Susquehanna upped their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.64.

Wynn Resorts Stock Down 1.8 %

NASDAQ:WYNN traded down $1.79 on Wednesday, reaching $95.44. 3,561,074 shares of the company’s stock traded hands, compared to its average volume of 1,812,510. The stock has a 50-day simple moving average of $100.38 and a 200-day simple moving average of $95.38. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $113.50. The firm has a market cap of $10.70 billion, a PE ratio of 15.92 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm’s revenue was up 30.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. On average, equities analysts anticipate that Wynn Resorts will post 5.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares in the company, valued at $33,253,632. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the transaction, the chief financial officer now owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. acquired a new stake in Wynn Resorts in the 3rd quarter worth about $210,000. Bank of New York Mellon Corp grew its holdings in shares of Wynn Resorts by 15.1% during the third quarter. Bank of New York Mellon Corp now owns 977,064 shares of the casino operator’s stock worth $90,291,000 after buying an additional 128,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Wynn Resorts by 21.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,071 shares of the casino operator’s stock valued at $4,257,000 after buying an additional 8,220 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Wynn Resorts by 3.3% in the third quarter. IFM Investors Pty Ltd now owns 19,036 shares of the casino operator’s stock worth $1,759,000 after buying an additional 600 shares in the last quarter. Finally, ING Groep NV boosted its position in Wynn Resorts by 1,657.3% during the third quarter. ING Groep NV now owns 259,958 shares of the casino operator’s stock worth $24,023,000 after acquiring an additional 245,165 shares during the last quarter. 68.87% 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.