Avestar Capital LLC Sells 388 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Avestar Capital LLC reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund 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.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 2nd quarter valued at $25,000. Blue Trust Inc. increased its holdings 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 worth $49,000 after buying an additional 467 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts in the 2nd quarter worth about $51,000. GAMMA Investing LLC increased its holdings in shares of Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after buying an additional 166 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after buying an additional 133 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $91.67 on Thursday. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 3.30 and a beta of 1.80. Wynn Resorts, Limited has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a 50-day moving average of $94.12 and a two-hundred day moving average of $87.96.

Wynn Resorts (NASDAQ:WYNN) last announced 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). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the company posted $0.99 EPS. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts expect that Wynn Resorts, Limited will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WYNN. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays reduced their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, UBS Group raised shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $115.71.

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.