Avantax Advisory Services Inc. Boosts Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Avantax Advisory Services Inc. boosted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,426 shares of the casino operator’s stock after acquiring an additional 638 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Wynn Resorts were worth $640,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WYNN. Thrivent Financial for Lutherans increased its stake in Wynn Resorts by 49.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after acquiring an additional 3,850 shares during the last quarter. Prospera Financial Services Inc increased its stake in Wynn Resorts by 4.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock worth $443,000 after acquiring an additional 181 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Wynn Resorts in the 3rd quarter worth about $202,000. Eagle Asset Management Inc. bought a new position in Wynn Resorts in the 3rd quarter worth about $58,486,000. Finally, Cerity Partners LLC increased its stake in Wynn Resorts by 7.0% in the 3rd quarter. Cerity Partners LLC now owns 53,711 shares of the casino operator’s stock worth $5,150,000 after acquiring an additional 3,521 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $82.63 on Friday. The stock has a market capitalization of $8.79 billion, a PE ratio of 19.63, a P/E/G ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a 1-year low of $71.63 and a 1-year high of $110.38. The business has a 50-day moving average of $85.71 and a 200 day moving average of $88.83.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating 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 analysts’ expectations of $1.78 billion. Analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WYNN shares. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $105.00 to $118.00 in a research note 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. Stifel Nicolaus increased 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. Mizuho increased their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Finally, Morgan Stanley reduced their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $119.58.

About Wynn Resorts

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.