Wynn Resorts, Limited $WYNN Shares Bought by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the casino operator’s stock after buying an additional 35,000 shares during the quarter. Pacific Heights Asset Management LLC owned 0.14% of Wynn Resorts worth $19,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Wynn Resorts during the 2nd quarter valued at $106,289,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $104,629,000. Thrivent Financial for Lutherans lifted its position in shares of Wynn Resorts by 6,391.3% during the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock worth $70,138,000 after purchasing an additional 737,234 shares during the last quarter. Greenwich Wealth Management LLC acquired a new position in Wynn Resorts in the second quarter worth about $46,845,000. Finally, Bamco Inc. NY increased its holdings in Wynn Resorts by 56.5% in the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after buying an additional 482,570 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock opened at $114.33 on Tuesday. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 14.80 and a beta of 1.08. The stock’s fifty day moving average is $122.98 and its two-hundred day moving average is $119.78.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.76 billion. Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. As a group, analysts predict that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s payout ratio is 22.37%.

Analyst Ratings Changes

WYNN has been the topic of a number of research analyst reports. Mizuho increased their target price on Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. Stifel Nicolaus upped their price target on Wynn Resorts from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Morgan Stanley lifted their price objective on shares of Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company assumed coverage on shares of Wynn Resorts in a report on Tuesday, November 18th. They set an “overweight” rating and a $151.00 target price on the stock. Finally, Jefferies Financial Group raised their price target on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.15.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.