Avestar Capital LLC Reduces Stock Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Avestar Capital LLC reduced its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,674 shares of the casino operator’s stock after selling 388 shares during the period. Avestar Capital LLC’s holdings in Wynn Resorts were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WYNN. International Assets Investment Management LLC bought a new position in Wynn Resorts in the second quarter worth about $25,000. Blue Trust Inc. raised its stake in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after buying an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new position in Wynn Resorts in the second quarter worth about $51,000. GAMMA Investing LLC raised its stake in Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after buying an additional 133 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Wells Fargo & Company decreased their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Macquarie reaffirmed an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Susquehanna raised their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Trading Down 0.2 %

Shares of WYNN stock opened at $91.67 on Thursday. The firm’s 50 day moving average is $94.12 and its 200 day moving average is $87.96. The stock has a market capitalization of $10.07 billion, a P/E ratio of 11.30, a P/E/G ratio of 3.30 and a beta of 1.80. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Wynn Resorts Profile

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.