Mizuho Initiates Coverage on Wynn Resorts (NASDAQ:WYNN)

Mizuho began coverage on shares of Wynn Resorts (NASDAQ:WYNN - Get Free Report) in a report released on Thursday, MarketBeat reports. The brokerage set a "buy" rating and a $131.00 price target on the casino operator's stock. Mizuho's price target indicates a potential upside of 23.45% from the stock's current price.

Several other brokerages have also weighed in on WYNN. Susquehanna lifted their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a "positive" rating in a research report on Thursday, February 8th. Morgan Stanley upped their price objective on Wynn Resorts from $99.00 to $107.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 13th. Macquarie raised their target price on Wynn Resorts from $122.00 to $128.00 and gave the stock an "outperform" rating in a research report on Friday, February 9th. UBS Group lowered their price target on Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 6th. Finally, Bank Of America (Bofa) lifted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $120.43.

Wynn Resorts Trading Down 0.3 %

NASDAQ:WYNN traded down $0.30 during trading hours on Thursday, hitting $106.12. 2,407,734 shares of the company traded hands, compared to its average volume of 1,870,717. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 17.75 and a beta of 1.93. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $117.86. The firm has a 50-day moving average of $101.47 and a 200 day moving average of $94.08.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating the consensus estimate of $1.15 by $0.76. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.74 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business's quarterly revenue was up 83.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.23) EPS. Equities research analysts predict that Wynn Resorts will post 5.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wynn Resorts news, EVP Ellen F. Whittemore sold 4,180 shares of the business's stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $95.26, for a total transaction of $398,186.80. Following the completion of the sale, the executive vice president now directly owns 74,144 shares of the company's stock, valued at approximately $7,062,957.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Craig Scott Billings sold 11,451 shares of the company's stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $95.26, for a total value of $1,090,822.26. Following the completion of the sale, the chief executive officer now owns 264,830 shares in the company, valued at $25,227,705.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ellen F. Whittemore sold 4,180 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $398,186.80. Following the completion of the transaction, the executive vice president now directly owns 74,144 shares in the company, valued at approximately $7,062,957.44. The disclosure for this sale can be found here. Insiders sold 73,828 shares of company stock worth $7,345,942 in the last quarter. Insiders own 0.52% of the company's stock.

Institutional Trading of Wynn Resorts

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator's stock valued at $25,000 after buying an additional 270 shares during the period. Point72 Europe London LLP acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $26,000. ICA Group Wealth Management LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $27,000. Sunbelt Securities Inc. grew its holdings in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator's stock valued at $28,000 after buying an additional 300 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $38,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.

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.