Wynn Resorts (NASDAQ:WYNN) PT Raised to $128.00 at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price target lifted by investment analysts at Barclays from $124.00 to $128.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price points to a potential upside of 31.26% from the stock’s previous close.

A number of other brokerages have also recently issued reports on WYNN. Susquehanna boosted their target price on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Wells Fargo & Company upped their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group decreased their price target on Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Mizuho assumed coverage on Wynn Resorts in a research note on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $122.93.

Wynn Resorts Stock Performance

Wynn Resorts stock traded up $1.77 during midday trading on Thursday, reaching $97.52. The company’s stock had a trading volume of 922,906 shares, compared to its average volume of 1,811,781. The stock’s 50 day simple moving average is $100.24 and its 200 day simple moving average is $95.39. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $113.50. The firm has a market capitalization of $10.93 billion, a PE ratio of 16.30 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data 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 firm had revenue of $1.86 billion during 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 quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS. Equities analysts predict that Wynn Resorts will post 5.37 earnings per share for the current year.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, CFO Julie Cameron-Doe sold 6,383 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.27, for a total transaction of $671,938.41. Following the completion of the transaction, the chief financial officer now directly owns 78,150 shares of the company’s stock, valued at approximately $8,226,850.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Patricia Mulroy sold 960 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now owns 522 shares in the company, valued at approximately $54,898.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now owns 78,150 shares in the company, valued at approximately $8,226,850.50. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Wynn Resorts during the fourth quarter valued at $157,305,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Wynn Resorts by 20,031.9% during the third quarter. Sequoia Financial Advisors LLC now owns 506,519 shares of the casino operator’s stock worth $46,807,000 after purchasing an additional 504,003 shares during the period. Invesco Ltd. increased its stake in Wynn Resorts by 20.7% in the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock valued at $133,908,000 after buying an additional 248,820 shares during the period. Eminence Capital LP purchased a new stake in shares of Wynn Resorts during the fourth quarter worth $15,089,000. Finally, Barclays PLC boosted its position in Wynn Resorts by 41.6% during the third quarter. Barclays PLC now owns 544,831 shares of the casino operator’s stock valued at $50,345,000 after purchasing an additional 160,054 shares during the last quarter. Institutional investors and hedge funds own 68.87% 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.