Argus Downgrades Wynn Resorts (NASDAQ:WYNN) to Hold

Argus lowered shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat reports.

Several other research analysts have also weighed in on the stock. Barclays lowered their price objective on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Macquarie reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average target price of $118.17.

Wynn Resorts Stock Performance

WYNN opened at $79.12 on Wednesday. The business’s 50-day simple moving average is $82.39 and its 200 day simple moving average is $87.43. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $107.81. The firm has a market capitalization of $8.40 billion, a PE ratio of 18.79, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. On average, research analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Activity

In related news, major shareholder Tilman J. Fertitta acquired 5,025 shares of the stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, for a total transaction of $406,974.75. Following the purchase, the insider now directly owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. The trade was a 0.05 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 438,700 shares of company stock worth $31,300,943. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently bought and sold shares of the company. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts in the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. increased its stake in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Wynn Resorts during the 3rd quarter worth $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Wynn Resorts during the 4th quarter worth $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock valued at $35,000 after acquiring an additional 409 shares during the last quarter. 88.64% of the stock is 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.