Wynn Resorts, Limited $WYNN Shares Bought by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC lifted its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 30.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 150,000 shares of the casino operator’s stock after purchasing an additional 35,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Wynn Resorts were worth $19,240,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. MUFG Securities EMEA plc bought a new position in Wynn Resorts in the 2nd quarter valued at about $25,000. Manchester Capital Management LLC lifted its stake in shares of Wynn Resorts by 1,500.0% in the 2nd quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares during the period. MTM Investment Management LLC bought a new position in shares of Wynn Resorts in the second quarter valued at approximately $31,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Wynn Resorts in the third quarter valued at approximately $31,000. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in shares of Wynn Resorts by 400.0% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after acquiring an additional 200 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Down 2.6%

Shares of NASDAQ WYNN opened at $114.33 on Tuesday. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 14.80 and a beta of 1.08. The business has a fifty day simple moving average of $122.98 and a 200-day simple moving average of $119.78.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. Wynn Resorts’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio is 22.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WYNN shares. The Goldman Sachs Group restated a “buy” rating and issued a $148.00 target price on shares of Wynn Resorts in a research report on Monday, December 15th. Texas Capital upgraded Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. UBS Group lifted their target price on Wynn Resorts from $147.00 to $148.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday, December 29th. Finally, Barclays raised their price objective on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $140.15.

About Wynn Resorts

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.