why Wynn Resorts Limited [WYNN] is a Good Choice for Investors After New Price Target of $94.62

Wynn Resorts Limited [NASDAQ: WYNN] price surged by 6.18 percent to reach at $5.29. The company report on December 16, 2022 that Wynn Resorts Macau Signs 10-year Gaming Concession Agreement.

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Wynn Resorts is pleased to announce that Wynn Resorts (Macau) S.A. has entered into a 10-year agreement with the Macau government for the renewal of its gaming concession, covering Wynn Macau and Wynn Palace Cotai. Through our extensive and positive discussions with the Macau government, we are confident that the market holds significant future opportunity.  We thank the government for its partnership and look forward to further supporting Macau as a world tourism and leisure center.

A sum of 5738923 shares traded at recent session while its average daily volume was at 3.68M shares. Wynn Resorts Limited shares reached a high of $92.35 and dropped to a low of $86.70 until finishing in the latest session at $90.90.

The one-year WYNN stock forecast points to a potential upside of 3.93. The average equity rating for WYNN stock is currently 2.30, 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 $94.62 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.

Wells Fargo have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 03, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $71 to $91. The new note on the price target was released on November 28, 2022, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another raise to $77, while Morgan Stanley analysts kept a Equal-Weight rating on WYNN stock.

The Average True Range (ATR) for Wynn Resorts Limited is set at 3.34, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 2.67.

WYNN Stock Performance Analysis:

Wynn Resorts Limited [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.79. With this latest performance, WYNN shares gained by 6.75% in over the last four-week period, additionally plugging by 62.79% over the last 6 months – not to mention a rise of 3.57% 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 66.99, with the RSI for the last a single of trading hit 70.60, and the three-weeks RSI is set at 64.98 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 77.05, while it was recorded at 84.07 for the last single week of trading, and 67.97 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 1.40 and a Current Ratio set at 1.40.

Wynn Resorts Limited [WYNN] Insider Position Details

There are presently around $6,698 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 0.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 9,112,067 shares of the stock with an approximate value of $828.29 million in WYNN stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $729.84 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 January and at the time of the January reporting period, where 215 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 6,365,271 shares. Additionally, 225 investors decreased positions by around 6,177,778 shares, while 87 investors held positions by with 61,144,698 shares. The mentioned changes placed institutional holdings at 73,687,747 shares, according to the latest SEC report filing. WYNN stock had 70 new institutional investments in for a total of 2,212,732 shares, while 55 institutional investors sold positions of 1,313,991 shares during the same period.


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