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


Avantax Advisory Services Inc. increased its stake in the shares of Wynn Resorts, Limited (NASDAQ:WYNNGet an assessment) by 35.3% in the 1st quarter, according to its last filing with the Securities and Exchange Commission (SEC). The company held 8,687 shares of the casino operator after acquiring 2,266 additional shares during the quarter. Avantax Advisory Services Inc.’s holdings in Wynn Resorts were worth $693,000 when it last filed with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of WYNN. UMB Bank NA MO purchased a new stake in Wynn Resorts during Q4, valued at approximately $39,000. Hexagon Capital Partners LLC acquired a new stake in Wynn Resorts in Q4 for approximately $51,000. CWM LLC purchased a new stake in Wynn Resorts in Q4 for approximately $66,000. Evoke Wealth LLC increased its stake in Wynn Resorts by 45.0% in the fourth quarter. Evoke Wealth LLC now owns 805 shares of the casino operator worth $68,000 after purchasing an additional 250 shares during the period. Finally, CenterStar Asset Management LLC purchased a new stake in Wynn Resorts in Q1 worth approximately $105,000. 62.72% of the shares are currently held by hedge funds and other institutional investors.

Wall Street analysts predict growth

Several research companies have weighed in on WYNN. Wells Fargo & Company lowered its price target on Wynn Resorts from $97.00 to $79.00 in a Wednesday, May 11 report. Citigroup lowered its price target on Wynn Resorts from $92.00 to $87.50 and set a “buy” rating for the company in a Tuesday, July 5 report. UBS Group set a target price of $67.00 on Wynn Resorts in a Monday, June 20 research note. Morgan Stanley lowered its target price on Wynn Resorts from $123.00 to $90.00 and set an “overweight” rating for the company in a Monday, April 25 research note. Finally, Barclays began covering Wynn Resorts in a research note on Tuesday June 28. They issued an “equal weight” rating and a target price of $62.00 for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, and six have assigned the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $96.88.

Wynn Resorts sources 2.2%

WYNN Stock opened at $55.47 on Friday. Wynn Resorts, Limited has a 12-month low of $50.20 and a 12-month high of $110.66. The company has a market capitalization of $6.43 billion, a PE ratio of -9.68 and a beta of 2.18. The company has a 50-day moving average of $60.05 and a 200-day moving average of $73.98.

Wynn Resorts (NASDAQ:WYNNGet an assessment) last released its quarterly earnings data on Tuesday, May 10. The casino operator reported ($1.21) earnings per share for the quarter, missing analyst consensus estimates of ($1.15) by ($0.06). The company posted revenue of $953.40 million in the quarter, versus a consensus estimate of $986.35 million. The company’s quarterly revenue increased by 31.4% compared to the same quarter last year. In the same period a year earlier, the company posted ($2.41) earnings per share. On average, research analysts expect Wynn Resorts, Limited to post earnings per share of -3.16 for the current fiscal year.

Profile of Wynn Hotels

(Get an assessment)

Wynn Resorts, Limited designs, develops and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming lounges and aerial casinos; a luxury hotel tower with 1,706 rooms, suites and villas, including a health club, spa, salon and swimming pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and floral art and performance lake exhibits.

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Institutional ownership by quarter for Wynn Resorts (NASDAQ:WYNN)



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Richard F. Gandhi