Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $113.00 at JPMorgan Chase & Co.

Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by JPMorgan Chase & Co. from $101.00 to $113.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

Several other research firms have also issued reports on WYNN. Stifel Nicolaus decreased their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. UBS Group raised Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Susquehanna raised their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Barclays cut their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Trading Down 9.3 %

NASDAQ WYNN opened at $86.72 on Tuesday. The stock has a market cap of $9.63 billion, a PE ratio of 10.69, a P/E/G ratio of 2.48 and a beta of 1.80. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a fifty day simple moving average of $90.19 and a 200-day simple moving average of $88.75.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $0.99 EPS. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. Research analysts predict that Wynn Resorts will post 5.42 EPS for the current year.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $25,000. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Wynn Resorts in the 2nd quarter valued at approximately $51,000. Covestor Ltd grew its stake in shares of Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after purchasing an additional 166 shares during the last quarter. 68.87% of the stock is currently owned by hedge funds and other 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.