Barclays Has Lowered Expectations for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN - Get Free Report) had its price objective cut by Barclays from $116.00 to $99.00 in a research note issued on Tuesday, MarketBeat.com reports. The firm presently has an "overweight" rating on the casino operator's stock. Barclays's target price indicates a potential upside of 20.57% from the stock's current price.

A number of other analysts have also recently weighed in on WYNN. StockNews.com cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Morgan Stanley decreased their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, February 14th. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Macquarie reissued an "outperform" rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.17.

Wynn Resorts Stock Performance

WYNN stock traded up $0.53 during trading on Tuesday, reaching $82.11. 1,466,758 shares of the company traded hands, compared to its average volume of 2,489,179. The business has a 50 day simple moving average of $82.06 and a 200 day simple moving average of $87.00. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $107.81. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.78 billion. As a group, research analysts forecast that Wynn Resorts will post 5.17 EPS for the current year.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, major shareholder Tilman J. Fertitta purchased 11,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $84.93 per share, for a total transaction of $974,571.75. Following the purchase, the insider now directly owns 12,600,000 shares in the company, valued at approximately $1,070,118,000. This trade represents a 0.09 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip G. Satre purchased 22,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 438,700 shares of company stock worth $31,300,943 in the last three months. Company insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WYNN. Norges Bank acquired a new position in Wynn Resorts during the fourth quarter worth $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in Wynn Resorts in the 4th quarter valued at about $101,375,000. Raymond James Financial Inc. purchased a new position in Wynn Resorts in the 4th quarter valued at about $75,872,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock worth $269,308,000 after buying an additional 485,204 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Wynn Resorts by 108.5% during the 4th quarter. Deutsche Bank AG now owns 848,636 shares of the casino operator's stock worth $73,118,000 after buying an additional 441,558 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

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.