Wynn Resorts (NASDAQ:WYNN) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Wynn Resorts (NASDAQ:WYNN - Get Free Report) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $122.00 price target on the casino operator's stock. The Goldman Sachs Group's price target indicates a potential upside of 15.62% from the company's previous close.

WYNN has been the subject of a number of other reports. Barclays reduced their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Wednesday, May 7th. Mizuho dropped their price objective on Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Wall Street Zen downgraded Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Citigroup raised Wynn Resorts from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $113.58.

Wynn Resorts Trading Up 0.8%

WYNN opened at $105.52 on Monday. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $107.81. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.05 and a beta of 1.37. The company's fifty day moving average price is $90.03 and its two-hundred day moving average price is $85.56.

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

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the transaction, the director directly owned 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Tennessee Department of Treasury increased its position in Wynn Resorts by 73.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator's stock valued at $2,050,000 after purchasing an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Wynn Resorts by 190.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator's stock valued at $1,706,000 after purchasing an additional 12,993 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Wynn Resorts during the fourth quarter valued at about $2,296,000. Brandywine Global Investment Management LLC bought a new position in Wynn Resorts in the fourth quarter worth about $5,216,000. Finally, Alliancebernstein L.P. lifted its holdings in Wynn Resorts by 12.4% in the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator's stock worth $10,577,000 after buying an additional 13,553 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

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.

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