Wynn Resorts (NASDAQ:WYNN) was upgraded by research analysts at Nomura from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $211.00 target price on the casino operator’s stock, up from their prior target price of $175.00. Nomura’s price target would suggest a potential upside of 24.65% from the stock’s current price.
WYNN has been the subject of several other reports. Deutsche Bank restated a “buy” rating and issued a $167.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 21st. Morgan Stanley upped their price target on Wynn Resorts from $151.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Goldman Sachs Group upgraded Wynn Resorts from a “sell” rating to a “neutral” rating in a research note on Sunday, February 4th. Citigroup set a $228.00 price target on Wynn Resorts and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Group initiated coverage on Wynn Resorts in a research note on Thursday, January 18th. They issued a “buy” rating and a $202.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Wynn Resorts presently has a consensus rating of “Buy” and a consensus target price of $179.62.
Wynn Resorts (NASDAQ:WYNN) opened at $169.28 on Wednesday. Wynn Resorts has a 52 week low of $92.67 and a 52 week high of $203.63. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 24.54. The firm has a market capitalization of $17,400.00, a P/E ratio of 23.28 and a beta of 1.59.
In other news, President Matt Maddox sold 59,260 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $155.12, for a total transaction of $9,192,411.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its holdings in Wynn Resorts by 0.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,050 shares of the casino operator’s stock valued at $275,000 after buying an additional 8 shares during the period. Cookson Peirce & Co. Inc. raised its holdings in Wynn Resorts by 1.3% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 3,230 shares of the casino operator’s stock valued at $433,000 after buying an additional 40 shares during the period. Thrivent Financial For Lutherans raised its holdings in Wynn Resorts by 4.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 3,030 shares of the casino operator’s stock valued at $406,000 after buying an additional 120 shares during the period. Sentry Investment Management LLC raised its holdings in Wynn Resorts by 4.2% during the 2nd quarter. Sentry Investment Management LLC now owns 5,940 shares of the casino operator’s stock valued at $797,000 after buying an additional 237 shares during the period. Finally, Cibc Bank USA raised its holdings in Wynn Resorts by 1.3% during the 4th quarter. Cibc Bank USA now owns 22,615 shares of the casino operator’s stock valued at $3,813,000 after buying an additional 295 shares during the period. Institutional investors own 72.27% of the company’s stock.
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About Wynn Resorts
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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