Avantax Advisory Services Inc. Grows Position in Wynn Resorts, Limited (NASDAQ:WYNN)

Avantax Advisory Services Inc. increased its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.4% in the fourth quarter, HoldingsChannel reports. The firm owned 7,426 shares of the casino operator’s stock after purchasing an additional 638 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Wynn Resorts were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WYNN. Thrivent Financial for Lutherans lifted its stake in shares of Wynn Resorts by 49.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock valued at $1,120,000 after purchasing an additional 3,850 shares during the period. Prospera Financial Services Inc lifted its stake in shares of Wynn Resorts by 4.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock valued at $443,000 after purchasing an additional 181 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at approximately $202,000. Eagle Asset Management Inc. purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at approximately $58,486,000. Finally, Cerity Partners LLC increased its position in Wynn Resorts by 7.0% during the 3rd quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock valued at $5,150,000 after buying an additional 3,521 shares in the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WYNN shares. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and raised their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Morgan Stanley reduced their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Barclays raised their price objective on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Stifel Nicolaus raised their price objective on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Price Performance

Shares of WYNN opened at $82.63 on Friday. Wynn Resorts, Limited has a one year low of $71.63 and a one year high of $110.38. The firm has a market capitalization of $8.79 billion, a P/E ratio of 19.63, a PEG ratio of 2.35 and a beta of 1.76. The business has a fifty day moving average of $85.71 and a 200 day moving average of $88.83.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Buying and Selling

In other news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

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.