Wynn Resorts, Limited (NASDAQ:WYNN) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp grew its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,906 shares of the casino operator’s stock after acquiring an additional 1,796 shares during the quarter. 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 have also modified their holdings of the company. Picton Mahoney Asset Management lifted its position in Wynn Resorts by 66.0% during the fourth quarter. Picton Mahoney Asset Management now owns 98,596 shares of the casino operator’s stock valued at $8,493,000 after buying an additional 39,196 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Wynn Resorts during the 4th quarter valued at $757,000. Avantax Advisory Services Inc. boosted its position in Wynn Resorts by 9.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,426 shares of the casino operator’s stock worth $640,000 after purchasing an additional 638 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Wynn Resorts by 25.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 525,282 shares of the casino operator’s stock valued at $45,258,000 after purchasing an additional 107,212 shares in the last quarter. Finally, AGF Management Ltd. purchased a new position in Wynn Resorts in the fourth quarter valued at about $2,402,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WYNN shares. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, February 24th. Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Stock Down 0.5 %

Shares of Wynn Resorts stock opened at $82.63 on Friday. The business has a 50-day moving average price of $85.71 and a 200 day moving average price of $88.83. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market cap of $8.79 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

Insider Activity

In other news, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Company Profile

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.