Pacific Heights Asset Management LLC boosted its stake in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 19.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,000 shares of the casino operator’s stock after buying an additional 25,000 shares during the period. Wynn Resorts accounts for approximately 1.3% of Pacific Heights Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Pacific Heights Asset Management LLC’s holdings in Wynn Resorts were worth $14,049,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in WYNN. State Street Corp raised its stake in Wynn Resorts by 1.4% in the first quarter. State Street Corp now owns 3,250,046 shares of the casino operator’s stock valued at $303,645,000 after buying an additional 44,681 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Wynn Resorts by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,054,223 shares of the casino operator’s stock valued at $191,926,000 after buying an additional 5,427 shares during the last quarter. Geode Capital Management LLC raised its stake in Wynn Resorts by 2.6% in the first quarter. Geode Capital Management LLC now owns 685,308 shares of the casino operator’s stock valued at $63,903,000 after buying an additional 17,611 shares during the last quarter. BlackRock Group LTD raised its stake in Wynn Resorts by 0.7% in the first quarter. BlackRock Group LTD now owns 635,440 shares of the casino operator’s stock valued at $59,370,000 after buying an additional 4,714 shares during the last quarter. Finally, Norges Bank bought a new stake in Wynn Resorts during the fourth quarter valued at about $38,032,000. Institutional investors and hedge funds own 74.48% of the company’s stock.
Shares of Wynn Resorts Ltd. (NASDAQ:WYNN) traded up 1.91% during mid-day trading on Monday, reaching $99.28. The company’s stock had a trading volume of 4,234,180 shares. Wynn Resorts Ltd. has a 52 week low of $49.95 and a 52 week high of $109.50. The stock has a market capitalization of $10.07 billion, a price-to-earnings ratio of 30.72 and a beta of 1.85. The company’s 50-day moving average is $98.67 and its 200-day moving average is $95.94.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.16. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. Equities analysts predict that Wynn Resorts Ltd. will post $3.81 EPS for the current year.
Several equities research analysts have recently issued reports on WYNN shares. Vetr lowered Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $100.18 price objective for the company. in a research note on Wednesday, July 6th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research note on Thursday, June 30th. Buckingham Research initiated coverage on Wynn Resorts in a research note on Friday, August 12th. They set a “buy” rating and a $113.00 price target for the company. Deutsche Bank AG reissued a “hold” rating on shares of Wynn Resorts in a research note on Sunday, June 26th. Finally, JPMorgan Chase & Co. lowered Wynn Resorts from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $101.00 to $94.00 in a research note on Thursday, July 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.91.
Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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