Union Gaming Research upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a report published on Friday. Union Gaming Research currently has $205.00 target price on the casino operator’s stock, up from their previous target price of $170.00.
Several other analysts also recently issued reports on the stock. Jefferies Group reissued a buy rating on shares of Wynn Resorts in a research note on Wednesday. Morgan Stanley reissued a hold rating and issued a $194.00 price objective (up previously from $193.00) on shares of Wynn Resorts in a research note on Thursday, March 15th. Deutsche Bank reduced their target price on shares of Wynn Resorts from $221.00 to $215.00 and set a buy rating on the stock in a research report on Wednesday, March 14th. Telsey Advisory Group started coverage on shares of Wynn Resorts in a research report on Tuesday, March 13th. They set a market perform rating and a $200.00 target price on the stock. Finally, Vetr lowered shares of Wynn Resorts from a strong-buy rating to a buy rating and set a $211.61 target price on the stock. in a research report on Monday, March 12th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $186.76.
Shares of Wynn Resorts (WYNN) traded up $0.34 during trading hours on Friday, hitting $175.88. 5,921,231 shares of the company were exchanged, compared to its average volume of 3,164,520. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 8.87. Wynn Resorts has a 1 year low of $110.18 and a 1 year high of $203.63. The company has a market cap of $18,083.76, a P/E ratio of 24.19 and a beta of 1.51.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Thursday, February 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, February 14th. Wynn Resorts’s payout ratio is 27.51%.
In related news, major shareholder Stephen A. Wynn sold 4,104,999 shares of Wynn Resorts stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware purchased a new position in Wynn Resorts during the fourth quarter valued at approximately $171,000. Calton & Associates Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $178,000. IBM Retirement Fund acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $201,000. FDx Advisors Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $203,000. Finally, Segment Wealth Management LLC acquired a new stake in Wynn Resorts in the fourth quarter valued at approximately $217,000. 70.29% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This article was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.tickerreport.com/banking-finance/3296037/wynn-resorts-wynn-upgraded-to-buy-at-union-gaming-research.html.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.