Pacer Advisors Inc. Sells 17,579 Shares of Wynn Resorts, Limited $WYNN

Pacer Advisors Inc. lowered its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 78.4% in the first quarter, HoldingsChannel reports. The firm owned 4,836 shares of the casino operator’s stock after selling 17,579 shares during the period. Pacer Advisors Inc.’s holdings in Wynn Resorts were worth $491,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its stake in Wynn Resorts by 0.6% during the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock worth $1,148,236,000 after buying an additional 61,209 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after acquiring an additional 320,502 shares during the last quarter. Egerton Capital UK LLP bought a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $249,053,000. Invesco Ltd. boosted its holdings in shares of Wynn Resorts by 14.2% in the 4th quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock worth $242,039,000 after acquiring an additional 249,704 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Wynn Resorts by 17.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock worth $125,918,000 after acquiring an additional 184,000 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts News Summary

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Macau-led earnings beat: Wynn’s second-quarter results exceeded expectations, with revenue up year over year and EPS ahead of consensus. The improvement was primarily attributed to strength in Macau, supporting the outlook for the company’s core Asian operations. WYNN’s Q2 Beat Puts Macau Strength and Margin Pressure in Focus
• Positive Sentiment: UAE resort construction progress: Wynn Al Marjan Island completed a 550-meter beachfront, sheltered lagoon and reef ahead of its planned opening. The project also continues to generate hospitality hiring and tourism interest in Ras Al Khaimah, potentially expanding Wynn’s long-term growth beyond Macau and Las Vegas. Wynn Al Marjan Island Completes Shoreline, Sheltered Lagoon, and Reef
• Positive Sentiment: Potential asset monetization: Wynn reportedly sold the Villa Lulu property, which could provide cash proceeds and reduce exposure to a non-core real-estate asset. Financial terms were not provided. Wynn Sells Villa Lulu

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $104.79 on Wednesday. The firm has a 50 day simple moving average of $100.45 and a 200 day simple moving average of $103.53. Wynn Resorts, Limited has a fifty-two week low of $92.52 and a fifty-two week high of $134.72. The firm has a market cap of $10.79 billion, a P/E ratio of 26.00, a P/E/G ratio of 1.00 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, sell-side analysts expect that Wynn Resorts, Limited will post 4.54 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s payout ratio is presently 24.81%.

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of recent analyst reports. Barclays raised their price target on Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Truist Financial started coverage on Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 target price on the stock. Stifel Nicolaus set a $143.00 target price on Wynn Resorts in a research note on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $128.00 price target on shares of Wynn Resorts in a report on Wednesday, July 22nd. Finally, Zacks Research downgraded shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $134.19.

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.