Pacer Advisors Inc. Purchases 11,067 Shares of Wynn Resorts, Limited $WYNN

Key Points

• Pacer Advisors Inc. nearly doubled its Wynn Resorts stake in the fourth quarter, buying 11,067 additional shares to bring its total to 22,415 shares worth about $2.7 million.
• Wynn Resorts reported stronger-than-expected quarterly results, with EPS of $1.25 versus $1.18 expected and revenue of $1.86 billion, up 9.2% year over year.
• The company also announced a quarterly dividend of $0.25 per share, while analysts remain broadly constructive with a consensus Moderate Buy rating and an average price target of $140.

Pacer Advisors Inc. grew its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 97.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 quarter.

A number of other institutional investors have also modified their holdings of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after purchasing an additional 754 shares during the last quarter. Woodline Partners LP raised its position in shares of Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock valued at $632,000 after purchasing an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock valued at $155,000 after purchasing an additional 201 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Wynn Resorts by 9.5% in the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator's stock valued at $937,000 after purchasing an additional 868 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $95.43 on Friday. The firm has a market cap of $9.90 billion, a PE ratio of 28.49, a PEG ratio of 0.85 and a beta of 1.01. The firm has a fifty day moving average of $102.94 and a 200 day moving average of $113.52. Wynn Resorts, Limited has a one year low of $82.63 and a one year high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results 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 net margin of 5.14% and a negative return on equity of 42.03%. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The firm's quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts predict that Wynn Resorts, Limited will post 4.84 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts's dividend payout ratio is presently 29.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WYNN shares. Wells Fargo & Company set a $142.00 price target on shares of Wynn Resorts and gave the stock an "overweight" rating in a research report on Sunday. JPMorgan Chase & Co. reduced their price target on shares of Wynn Resorts from $140.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Bank of America reduced their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Monday. Finally, Mizuho reduced their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an "outperform" rating for the company in a research report on Tuesday. One 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.com, the company has an average rating of "Moderate Buy" and an average price target of $140.00.

Wynn Resorts Company 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.

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