Wynn Resorts (NASDAQ:WYNN) Lowered to "Hold" Rating by Argus

Argus lowered shares of Wynn Resorts (NASDAQ:WYNN - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat.com reports.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, February 14th. 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 report on Monday, February 24th. Barclays decreased their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.17.

Wynn Resorts Trading Down 0.2 %

Wynn Resorts stock traded down $0.13 during trading hours on Wednesday, reaching $81.98. 656,265 shares of the stock were exchanged, compared to its average volume of 2,481,946. The stock has a 50 day moving average of $82.06 and a two-hundred day moving average of $86.88. Wynn Resorts has a twelve month low of $65.25 and a twelve month high of $107.81. The company has a market cap of $8.70 billion, a P/E ratio of 19.47, 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 earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.78 billion. On average, analysts expect that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.22%. Wynn Resorts's payout ratio is currently 23.75%.

Insider Buying and Selling

In related news, major shareholder Tilman J. Fertitta purchased 100,000 shares of Wynn Resorts stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the completion of the transaction, the insider now directly owns 13,000,000 shares of the company's stock, valued at $879,060,000. This represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, the director now owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 438,700 shares of company stock valued at $31,300,943 over the last three months. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of WYNN. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Wynn Resorts by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after purchasing an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. raised its holdings in Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares during the period. Renaissance Technologies LLC raised its stake in shares of Wynn Resorts by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock valued at $139,300,000 after acquiring an additional 228,000 shares during the period. Finally, Norges Bank purchased a new position in shares of Wynn Resorts during the 4th quarter worth about $117,352,000. 88.64% of the stock is currently owned by institutional investors.

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.