Alta Wealth Advisors LLC Lowers Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Alta Wealth Advisors LLC reduced its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,714 shares of the casino operator’s stock after selling 306 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Wynn Resorts were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 2nd quarter worth approximately $25,000. Register Financial Advisors LLC bought a new stake in shares of Wynn Resorts in the 1st quarter worth approximately $37,000. Blue Trust Inc. boosted its stake in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Wynn Resorts during the 2nd quarter valued at $51,000. Finally, Covestor Ltd raised its position in Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares during the period. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the business’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 owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by insiders.

Analyst Ratings Changes

WYNN has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley increased their target price on Wynn Resorts from $104.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reduced their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company raised their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.67.

Wynn Resorts Trading Up 1.5 %

NASDAQ:WYNN opened at $99.44 on Friday. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a 50-day moving average price of $85.42 and a 200-day moving average price of $89.25. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts forecast that Wynn Resorts, Limited will post 5.42 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Wynn Resorts’s dividend payout ratio is presently 13.57%.

Wynn Resorts Company 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.