Alta Wealth Advisors LLC Sells 306 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Alta Wealth Advisors LLC reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,714 shares of the casino operator’s stock after selling 306 shares during the period. Alta Wealth Advisors LLC’s holdings in Wynn Resorts were worth $548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after purchasing an additional 204,852 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Wynn Resorts by 5.1% during the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after buying an additional 38,160 shares during the last quarter. Finally, Regal Partners Ltd increased its holdings in Wynn Resorts by 5.6% in the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock worth $64,861,000 after buying an additional 38,344 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Up 1.5 %

Shares of NASDAQ:WYNN opened at $99.44 on Friday. The stock has a 50 day moving average of $85.42 and a 200 day moving average of $89.25. The company has a market cap of $11.04 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 2.57 and a beta of 1.81. 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 earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. Equities research analysts predict that Wynn Resorts, Limited will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on WYNN. Susquehanna upped 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. Morgan Stanley increased their price objective on shares of Wynn Resorts from $104.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company lifted their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Barclays raised their price target on Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

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.