Independent Advisor Alliance Sells 161 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Independent Advisor Alliance lowered its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,151 shares of the casino operator’s stock after selling 161 shares during the quarter. Independent Advisor Alliance’s holdings in Wynn Resorts were worth $1,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Regal Partners Ltd grew its holdings in Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after purchasing an additional 174,005 shares during the period. Cetera Investment Advisers lifted its position in shares of Wynn Resorts by 326.5% during the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock valued at $2,656,000 after buying an additional 19,889 shares in the last quarter. Crystal Rock Capital Management bought a new position in shares of Wynn Resorts during the 3rd quarter valued at approximately $719,000. MBB Public Markets I LLC purchased a new stake in Wynn Resorts in the 2nd quarter worth approximately $698,000. Finally, Virtu Financial LLC bought a new stake in Wynn Resorts during the 1st quarter worth approximately $1,248,000. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock opened at $91.86 on Wednesday. The firm has a fifty day moving average price of $93.88 and a 200 day moving average price of $87.99. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market cap of $10.09 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 3.36 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 business earned $0.99 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts predict that Wynn Resorts, Limited will post 4.87 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Macquarie reiterated an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley upped their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus decreased their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

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.