Wynn Resorts (NASDAQ:WYNN) Given New $141.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price target increased by Barclays from $127.00 to $141.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price indicates a potential upside of 12.99% from the stock’s current price.

A number of other research analysts have also recently weighed in on WYNN. JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Jefferies Financial Group lifted their price target on shares of Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Morgan Stanley raised their target price on Wynn Resorts from $113.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Wednesday, September 3rd. Finally, Mizuho raised their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $132.42.

Wynn Resorts Trading Up 1.8%

Wynn Resorts stock traded up $2.26 during trading on Friday, hitting $124.80. The company had a trading volume of 1,337,606 shares, compared to its average volume of 2,282,217. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.23. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32. The company’s 50 day simple moving average is $123.54 and its 200-day simple moving average is $106.91.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company posted $0.90 EPS. Wynn Resorts’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently made changes to their positions in the stock. Resolute Capital Asset Partners LLC bought a new stake in Wynn Resorts in the first quarter valued at approximately $3,758,000. Oak Harvest Investment Services boosted its stake in shares of Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock worth $2,677,000 after buying an additional 5,511 shares during the last quarter. Strs Ohio bought a new position in shares of Wynn Resorts in the first quarter valued at $7,515,000. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Wynn Resorts by 116.0% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,564 shares of the casino operator’s stock worth $1,209,000 after purchasing an additional 7,820 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of Wynn Resorts during the 1st quarter worth about $365,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Company Profile

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.