The Wynn Resorts, Limited (NASDAQ:WYNN) Downgraded by TheStreet

The Wynn Resorts, Limited (NASDAQ:WYNN) Downgraded by TheStreet

Wynn Resorts, Limited (NASDAQ:WYNN) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Friday, October 13th.

A number of other equities analysts also recently issued reports on WYNN. Deutsche Bank AG set a $161.00 price target on shares of Wynn Resorts, Limited and gave the stock a “buy” rating in a research note on Monday, October 16th. UBS Group AG reissued a “buy” rating and issued a $174.00 price target (up from $149.00) on shares of Wynn Resorts, Limited in a research note on Friday, September 29th. Zacks Investment Research downgraded shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $157.00 price target (up from $150.00) on shares of Wynn Resorts, Limited in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $134.00 price target on shares of Wynn Resorts, Limited in a research note on Thursday, October 12th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $138.93.

Shares of Wynn Resorts, Limited (NASDAQ WYNN) traded up 1.12% on Friday, reaching $145.12. 1,142,776 shares of the company traded hands. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $150.40. The firm has a market capitalization of $14.79 billion, a P/E ratio of 54.31 and a beta of 1.67. The stock has a 50-day moving average price of $144.87 and a 200 day moving average price of $133.38.

Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, beating the consensus estimate of $1.16 by $0.02. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 165.77%. The company’s quarterly revenue was up 44.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. Analysts anticipate that Wynn Resorts, Limited will post $5.07 EPS for the current fiscal year.

In related news, President Matt Maddox sold 42,900 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $143.44, for a total value of $6,153,576.00. Following the sale, the president now owns 350,586 shares in the company, valued at $50,288,055.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kimmarie Sinatra sold 21,451 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $143.62, for a total transaction of $3,080,792.62. Following the completion of the sale, the executive vice president now owns 223,443 shares in the company, valued at approximately $32,090,883.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,351 shares of company stock worth $9,621,369. Corporate insiders own 13.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of WYNN. FNY Partners Fund LP boosted its holdings in Wynn Resorts, Limited by 5,400.0% in the first quarter. FNY Partners Fund LP now owns 1,100 shares of the casino operator’s stock worth $126,000 after purchasing an additional 1,080 shares during the last quarter. Reilly Financial Advisors LLC boosted its holdings in Wynn Resorts, Limited by 1,000.0% in the second quarter. Reilly Financial Advisors LLC now owns 1,100 shares of the casino operator’s stock worth $148,000 after purchasing an additional 1,000 shares during the last quarter. Financial Architects Inc boosted its holdings in Wynn Resorts, Limited by 4.2% in the second quarter. Financial Architects Inc now owns 1,250 shares of the casino operator’s stock worth $168,000 after purchasing an additional 50 shares during the last quarter. IFP Advisors Inc boosted its holdings in Wynn Resorts, Limited by 40.8% in the second quarter. IFP Advisors Inc now owns 1,259 shares of the casino operator’s stock worth $169,000 after purchasing an additional 365 shares during the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in Wynn Resorts, Limited by 808.1% in the second quarter. Hanseatic Management Services Inc. now owns 1,462 shares of the casino operator’s stock worth $196,000 after purchasing an additional 1,301 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

About Wynn Resorts, Limited

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

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