Barclays Upgrades Wynn Resorts (NASDAQ:WYNN) to Overweight

Wynn Resorts (NASDAQ:WYNN – Get Rating) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, The Fly reports. The firm currently has a $135.00 price objective on the casino operator’s stock, up from their prior price objective of $120.00. Barclays‘s target price would indicate a potential upside of 22.39% from the company’s current price.

A number of other equities analysts have also commented on the stock. Citigroup lifted their price target on shares of Wynn Resorts from $134.50 to $138.00 in a research report on Wednesday, May 10th. Stifel Nicolaus boosted their target price on shares of Wynn Resorts from $127.00 to $137.00 in a research note on Wednesday, May 10th. Credit Suisse Group lifted their target price on Wynn Resorts from $117.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Jefferies Financial Group raised their price target on Wynn Resorts from $130.00 to $135.00 in a report on Monday, March 13th. Finally, StockNews.com upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Saturday, March 11th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and an average target price of $118.18.

Wynn Resorts Trading Up 1.3 %

WYNN stock opened at $110.30 on Wednesday. Wynn Resorts has a one year low of $50.20 and a one year high of $117.86. The firm has a 50-day moving average of $109.51 and a two-hundred day moving average of $97.77. The firm has a market capitalization of $12.55 billion, a PE ratio of -51.54 and a beta of 2.03.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The casino operator reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.47. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the company posted ($1.21) EPS. The firm’s revenue was up 49.3% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts will post 1.4 earnings per share for the current year.

Insider Activity

In related news, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total transaction of $432,320.00. Following the completion of the sale, the chief financial officer now directly owns 65,970 shares in the company, valued at approximately $7,130,037.60. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Craig Scott Billings sold 10,901 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $103.26, for a total value of $1,125,637.26. Following the transaction, the chief executive officer now owns 255,781 shares in the company, valued at approximately $26,411,946.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $108.08, for a total transaction of $432,320.00. Following the completion of the sale, the chief financial officer now directly owns 65,970 shares in the company, valued at $7,130,037.60. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WYNN. Jefferies Financial Group Inc. bought a new position in shares of Wynn Resorts in the 4th quarter worth $561,659,000. Fisher Asset Management LLC boosted its position in shares of Wynn Resorts by 7,833.7% during the first quarter. Fisher Asset Management LLC now owns 2,215,960 shares of the casino operator’s stock valued at $247,988,000 after buying an additional 2,188,029 shares during the last quarter. Norges Bank bought a new position in shares of Wynn Resorts during the fourth quarter valued at about $98,726,000. Two Sigma Investments LP boosted its holdings in Wynn Resorts by 625.5% during the fourth quarter. Two Sigma Investments LP now owns 821,144 shares of the casino operator’s stock worth $67,720,000 after purchasing an additional 707,957 shares during the last quarter. Finally, Barclays PLC increased its stake in Wynn Resorts by 383.5% in the 3rd quarter. Barclays PLC now owns 542,150 shares of the casino operator’s stock valued at $34,173,000 after buying an additional 430,030 shares during the last quarter. Institutional investors and hedge funds own 70.95% of the company’s stock.

Wynn Resorts Company Profile

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Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.