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

Key Points

• Pacer Advisors cut its Wynn Resorts stake by 78.4% in the first quarter, selling 17,579 shares and retaining 4,836 shares valued at approximately $491,000. Institutional investors collectively own 88.64% of the company.
• Wynn Resorts reported quarterly EPS of $1.24 versus the $0.99 consensus estimate, while revenue reached $1.86 billion, up 6.9% year over year. The earnings beat was driven largely by strength in Macau.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $134.19 versus the stock’s $104.79 opening price. Wynn also declared a quarterly dividend of $0.25 per share, implying a 1.0% annualized yield.

Pacer Advisors Inc. lowered its holdings in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 78.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,836 shares of the casino operator's stock after selling 17,579 shares during the quarter. Pacer Advisors Inc.'s holdings in Wynn Resorts were worth $491,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new stake in shares of Wynn Resorts in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its stake in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. SHP Wealth Management acquired a new position in Wynn Resorts during the 4th quarter valued at $32,000. Geneos Wealth Management Inc. boosted its holdings in 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 period. Finally, International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 4th quarter valued at $34,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts News Roundup

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

Analyst Upgrades and Downgrades

WYNN has been the subject of a number of research analyst reports. Argus upped their price objective on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Truist Financial initiated coverage on Wynn Resorts in a research report on Wednesday, July 8th. They set a "buy" rating and a $125.00 target price on the stock. Barclays boosted their price target on Wynn Resorts from $134.00 to $136.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $134.19.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $104.79 on Wednesday. The firm has a market cap of $10.79 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.00 and a beta of 1.01. The firm's 50-day simple moving average is $100.45 and its 200-day simple moving average is $103.53. Wynn Resorts, Limited has a twelve month low of $92.52 and a twelve month high of $134.72.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, equities analysts forecast that Wynn Resorts, Limited will post 4.54 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

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

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.

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