Cibc World Markets Corp Increases Stake in Wynn Resorts, Limited (NASDAQ:WYNN)

Cibc World Markets Corp grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,906 shares of the casino operator’s stock after acquiring an additional 1,796 shares during the period. Cibc World Markets Corp’s holdings in Wynn Resorts were worth $1,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares during the period. Geode Capital Management LLC boosted its stake in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after buying an additional 34,907 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Wynn Resorts by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 952,442 shares of the casino operator’s stock worth $82,062,000 after acquiring an additional 5,032 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at $75,872,000. Finally, Holocene Advisors LP boosted its position in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after purchasing an additional 755,236 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Trading Down 0.5 %

NASDAQ:WYNN opened at $82.63 on Friday. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The company’s 50-day moving average is $85.71 and its two-hundred day moving average is $88.83.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. On average, equities research analysts forecast that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WYNN shares. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th. Mizuho raised their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and boosted their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus raised their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.58.

Insider Activity at Wynn Resorts

In related news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.