Pacer Advisors Inc. Grows Stock Position in Wynn Resorts, Limited $WYNN

Pacer Advisors Inc. increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 97.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,415 shares of the casino operator’s stock after purchasing an additional 11,067 shares during the period. Pacer Advisors Inc.’s holdings in Wynn Resorts were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after buying an additional 89 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after acquiring an additional 103 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts during the second quarter worth about $25,000. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the fourth quarter worth about $34,000. Finally, Geneos Wealth Management Inc. raised its holdings in Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Up 0.5%

Shares of WYNN opened at $104.15 on Wednesday. Wynn Resorts, Limited has a twelve month low of $89.85 and a twelve month high of $134.72. The firm has a market capitalization of $10.81 billion, a P/E ratio of 31.09, a PEG ratio of 0.97 and a beta of 0.98. The firm’s 50-day moving average is $103.33 and its two-hundred day moving average is $109.20.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. Analysts predict that Wynn Resorts, Limited will post 4.61 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s payout ratio is currently 29.85%.

Analyst Ratings Changes

A number of brokerages have weighed in on WYNN. Bank of America lowered their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Citigroup reduced their price target on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. Mizuho decreased their price target on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Wells Fargo & Company set a $142.00 price objective on Wynn Resorts and gave the stock an “overweight” rating in a report on Sunday, May 10th. Finally, JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

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.