UBS Group Reaffirms Neutral Rating for Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts (NASDAQ:WYNN - Get Free Report)'s stock had its "neutral" rating reissued by UBS Group in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $101.00 price objective on the casino operator's stock, up from their prior price objective of $83.00. UBS Group's target price suggests a potential downside of 8.25% from the company's current price.

WYNN has been the topic of a number of other research reports. Mizuho cut their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a report on Monday, June 23rd. They issued an "overweight" rating and a $109.00 target price for the company. Citigroup upgraded Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Argus downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. Finally, Barclays lowered their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $112.71.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN traded down $0.38 during trading hours on Tuesday, hitting $110.08. 716,095 shares of the company's stock traded hands, compared to its average volume of 2,594,459. The company's fifty day simple moving average is $91.13 and its two-hundred day simple moving average is $85.87. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.37. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $111.57.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 62.13% and a net margin of 6.17%. The business's revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. On average, analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,262 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the transaction, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. This trade represents a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.52% of the company's stock.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts in the fourth quarter valued at $36,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Wynn Resorts by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator's stock valued at $82,062,000 after acquiring an additional 5,032 shares during the period. M&T Bank Corp boosted its stake in shares of Wynn Resorts by 14.7% in the 4th quarter. M&T Bank Corp now owns 4,997 shares of the casino operator's stock valued at $431,000 after purchasing an additional 639 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth about $1,752,000. Finally, Candriam S.C.A. acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $558,000. 88.64% of the stock is currently owned by institutional investors.

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.