Wynn Resorts Ltd. (WYNN) Shares Bought by Pacific Heights Asset Management LLC
Pacific Heights Asset Management LLC raised its stake in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 19.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 portfolio, making the stock its 25th largest position. Pacific Heights Asset Management LLC owned 0.15% of Wynn Resorts worth $14,049,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in WYNN. IFP Advisors Inc raised its stake in shares of Wynn Resorts by 44.1% in the first quarter. IFP Advisors Inc now owns 1,069 shares of the casino operator’s stock valued at $100,000 after buying an additional 327 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of Wynn Resorts during the first quarter valued at $205,000. RMB Capital Management LLC purchased a new stake in shares of Wynn Resorts during the first quarter valued at $316,000. ING Groep NV purchased a new stake in shares of Wynn Resorts during the first quarter valued at $368,000. Finally, K.J. Harrison & Partners Inc raised its stake in shares of Wynn Resorts by 50.0% in the second quarter. K.J. Harrison & Partners Inc now owns 4,500 shares of the casino operator’s stock valued at $408,000 after buying an additional 1,500 shares during the period. 74.48% of the stock is owned by hedge funds and other institutional investors.
Wynn Resorts Ltd. (NASDAQ:WYNN) traded up 1.91% during trading on Monday, hitting $99.28. The stock had a trading volume of 4,234,180 shares. Wynn Resorts Ltd. has a 12 month low of $49.95 and a 12 month high of $109.50. The stock has a 50 day moving average price of $98.67 and a 200-day moving average price of $95.94. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 30.72 and a beta of 1.85.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.16. The business earned $1.06 billion during 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 firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. On average, equities analysts predict that Wynn Resorts Ltd. will post $3.81 EPS for the current year.
Several equities research analysts recently weighed in on the company. Deutsche Bank AG reissued a “hold” rating on shares of Wynn Resorts in a report on Sunday, June 26th. Vetr raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $103.36 target price for the company in a report on Monday, August 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. Zacks Investment Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Monday, August 1st. Finally, Telsey Advisory Group lifted their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $99.91.
About Wynn Resorts
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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