Wynn Resorts Limited [WYNN] stock Reiterated by Wells Fargo analyst, price target now $99

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Wynn Resorts Limited [NASDAQ: WYNN] price surged by 3.95 percent to reach at $2.64. The company report on February 15, 2022 that Realty Income Announces $1.7 Billion Sale-Leaseback Of Encore Boston Harbor Through Partnership With Wynn Resorts.


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Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, announced today that the company has signed a definitive agreement to acquire the Encore Boston Harbor (Encore) Resort and Casino for $1.7 billion under a long-term net lease agreement with Wynn Resorts, Limited (NASDAQ: WYNN). The transaction is Realty Income’s first acquisition in the gaming industry.

The sale-leaseback transaction with Wynn Resorts is expected to be executed at a 5.9% initial cap rate, includes an initial lease term of 30 years with annual rent growth of 1.75% for the first ten years and the greater of 1.75% or CPI (capped at 2.5%) over the remaining lease term. The lease also includes an additional 30-year option to renew upon expiration. Pending regulatory procedures, the company expects to close this transaction in the 4th quarter of 2022.

A sum of 4604730 shares traded at recent session while its average daily volume was at 3.50M shares. Wynn Resorts Limited shares reached a high of $70.40 and dropped to a low of $66.33 until finishing in the latest session at $69.52.

The one-year WYNN stock forecast points to a potential upside of 36.37. The average equity rating for WYNN stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Wynn Resorts Limited [WYNN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WYNN shares is $109.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WYNN stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on February 16, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $117 to $123. The new note on the price target was released on February 16, 2022, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another raise from $93 to $102, while JP Morgan kept a Neutral rating on WYNN stock. On February 16, 2022, analysts decreased their price target for WYNN shares from 131 to 121.

The Average True Range (ATR) for Wynn Resorts Limited is set at 4.82, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 2.14.

WYNN Stock Performance Analysis:

Wynn Resorts Limited [WYNN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.09. With this latest performance, WYNN shares dropped by -24.36% in over the last four-week period, additionally sinking by -24.64% over the last 6 months – not to mention a drop of -49.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WYNN stock in for the last two-week period is set at 35.27, with the RSI for the last a single of trading hit 33.22, and the three-weeks RSI is set at 37.50 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 85.43, while it was recorded at 72.50 for the last single week of trading, and 95.21 for the last 200 days.

Insight into Wynn Resorts Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Wynn Resorts Limited [WYNN] shares currently have an operating margin of -10.30 and a Gross Margin at +13.00. Wynn Resorts Limited’s Net Margin is presently recorded at -20.08.

Wynn Resorts Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

Wynn Resorts Limited [WYNN] Insider Position Details

There are presently around $4,879 million, or 63.60% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 10,940,868, which is approximately 0.405% of the company’s market cap and around 0.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 10,330,316 shares of the stock with an approximate value of $690.89 million in WYNN stocks shares; and BLACKROCK INC., currently with $455.87 million in WYNN stock with ownership of nearly -17.255% of the company’s market capitalization.

Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 279 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 7,208,628 shares. Additionally, 275 investors decreased positions by around 8,531,586 shares, while 71 investors held positions by with 57,217,962 shares. The mentioned changes placed institutional holdings at 72,958,176 shares, according to the latest SEC report filing. WYNN stock had 105 new institutional investments in for a total of 1,997,076 shares, while 99 institutional investors sold positions of 1,607,018 shares during the same period.

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