why Wynn Resorts Limited [WYNN] is a Good Choice for Investors After New Price Target of $85.83

Wynn Resorts Limited [NASDAQ: WYNN] closed the trading session at $86.43 on 12/08/22. The day’s price range saw the stock hit a low of $85.787, while the highest price level was $89.65. The company report on December 1, 2022 that Wynn Completes Previously Announced $1.7 Billion Encore Boston Harbor Land and Real Estate Sale Leaseback Transaction.


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Wynn Resorts, Limited (NASDAQ: WYNN) today announced that it has completed the sale of the land and real estate assets of Encore Boston Harbor to Realty Income Corporation (Realty Income, NYSE: O) for $1.7 billion in cash, representing a cash cap rate of 5.9%, having received all necessary regulatory approvals. The net proceeds of the transaction will further strengthen the Company’s global liquidity position to $4.4 billion.

Wynn Resorts will continue to operate the Encore Boston Harbor integrated resort at the five-star standard for which the Company is renowned via a triple net lease arrangement with Realty Income. The lease has an initial annual rent of $100 million for a term of thirty years with one thirty-year renewal option. The rent will escalate annually at a rate of 1.75% for the first ten years and the greater of 1.75% or CPI (capped at 2.5%) over the remaining initial lease term.

The stocks have a year to date performance of 1.63 percent and weekly performance of 2.84 percent. The stock has been moved at 30.40 percent over the last six months. The stock has performed 22.74 percent around the most recent 30 days and changed 37.67 percent over the most recent 3-months.

If compared to the average trading volume of 4.19M shares, WYNN reached to a volume of 2785213 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $85.83 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 2.30. 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.

JP Morgan have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 28, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on November 21, 2022, representing the official price target for Wynn Resorts Limited stock.

The Average True Range (ATR) for Wynn Resorts Limited is set at 3.28, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 2.55.

WYNN stock trade performance evaluation

Wynn Resorts Limited [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.84. With this latest performance, WYNN shares gained by 22.74% in over the last four-week period, additionally plugging by 30.40% over the last 6 months – not to mention a drop of -1.97% 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 72.84, with the RSI for the last a single of trading hit 77.65, and the three-weeks RSI is set at 68.76 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 69.71, while it was recorded at 85.54 for the last single week of trading, and 67.50 for the last 200 days.

Wynn Resorts Limited [WYNN]: An insightful look at the core 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 1.40 and a Current Ratio set at 1.40.

Wynn Resorts Limited [WYNN]: Insider Ownership positions

There are presently around $6,434 million, or 66.40% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 11,424,780, which is approximately 0.885% of the company’s market cap and around 0.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 9,112,067 shares of the stock with an approximate value of $787.56 million in WYNN stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $693.95 million in WYNN stock with ownership of nearly 7.135% of the company’s market capitalization.

Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 214 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 6,369,985 shares. Additionally, 228 investors decreased positions by around 6,384,832 shares, while 89 investors held positions by with 61,684,083 shares. The mentioned changes placed institutional holdings at 74,438,900 shares, according to the latest SEC report filing. WYNN stock had 69 new institutional investments in for a total of 2,217,774 shares, while 57 institutional investors sold positions of 1,323,083 shares during the same period.

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