Wynn Resorts (NASDAQ:WYNN) Stock Rating Upgraded by Bank of America

Wynn Resorts (NASDAQ:WYNN - Get Free Report) was upgraded by equities research analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a $100.00 price target on the casino operator's stock. Bank of America's price objective suggests a potential upside of 13.73% from the stock's previous close.

WYNN has been the topic of a number of other reports. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and lifted their target price for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research note on Wednesday, April 23rd. StockNews.com lowered Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Barclays lowered their price objective on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $112.92.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $1.34 during trading on Wednesday, reaching $87.93. The stock had a trading volume of 3,216,434 shares, compared to its average volume of 2,490,703. The company has a market cap of $9.34 billion, a P/E ratio of 20.89, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The business's 50-day moving average price is $80.65 and its 200-day moving average price is $85.88.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results 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 firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business's revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. Analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Insider Buying and Selling at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was acquired at an average cost of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares of the company's stock, valued at $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 34,195 shares of the company's stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 438,700 shares of company stock worth $31,300,943 over the last 90 days. Corporate insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in WYNN. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts during the 3rd quarter valued at approximately $31,000. Synovus Financial Corp purchased a new stake in shares of Wynn Resorts during the third quarter worth approximately $202,000. Franklin Resources Inc. lifted its holdings in shares of Wynn Resorts by 0.5% during the third quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator's stock worth $26,088,000 after purchasing an additional 1,165 shares during the period. Principal Financial Group Inc. grew its position in Wynn Resorts by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator's stock valued at $10,361,000 after buying an additional 2,001 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Wynn Resorts by 91.9% in the 4th quarter. GAMMA Investing LLC now owns 2,885 shares of the casino operator's stock valued at $249,000 after buying an additional 1,382 shares during the period. 88.64% of the stock is owned by hedge funds and other 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.