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

Pacer Advisors Inc. increased its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 97.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,415 shares of the casino operator’s stock after buying an additional 11,067 shares during the period. Pacer Advisors Inc.’s holdings in Wynn Resorts were worth $2,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new position in Wynn Resorts in the second quarter valued at approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Wynn Resorts in the third quarter valued at approximately $26,000. 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 during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 156 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at approximately $34,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WYNN shares. Mizuho decreased their price objective on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a report on Tuesday. Citigroup decreased their price objective on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company set a $142.00 price objective on Wynn Resorts and gave the company an “overweight” rating in a report on Sunday. Barclays decreased their price objective on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Performance

NASDAQ:WYNN opened at $95.43 on Friday. The stock has a fifty day moving average price of $102.94 and a two-hundred day moving average price of $113.52. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.85 and a beta of 1.01. Wynn Resorts, Limited has a 1 year low of $82.63 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Wynn Resorts, Limited will post 4.84 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, May 18th. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

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.