Wynn Resorts, Limited $WYNN Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. grew its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 125.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 47,923 shares of the casino operator’s stock after purchasing an additional 26,692 shares during the quarter. Cibc World Market Inc.’s holdings in Wynn Resorts were worth $6,147,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Wynn Resorts during the second quarter worth about $106,289,000. Pacific Heights Asset Management LLC increased its stake in shares of Wynn Resorts by 30.4% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock valued at $19,240,000 after acquiring an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Wynn Resorts by 19.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock worth $114,374,000 after acquiring an additional 142,892 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Wynn Resorts in the third quarter worth approximately $51,163,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Wynn Resorts in the third quarter valued at approximately $1,347,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Wynn Resorts from $146.00 to $155.00 and gave the company a “buy” rating in a report on Monday, December 8th. Susquehanna reiterated a “positive” rating and set a $133.00 target price on shares of Wynn Resorts in a report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $144.00 price objective on shares of Wynn Resorts in a research note on Friday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $148.00 target price on shares of Wynn Resorts in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $139.00.

Get Our Latest Research Report on Wynn Resorts

Wynn Resorts Stock Up 5.1%

Shares of WYNN opened at $113.39 on Friday. The company has a 50-day moving average price of $118.39 and a two-hundred day moving average price of $120.19. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 9.79 and a beta of 1.06. Wynn Resorts, Limited has a 12 month low of $65.25 and a 12 month high of $134.72.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 EPS. Equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, February 23rd. Wynn Resorts’s payout ratio is 33.33%.

Key Headlines Impacting Wynn Resorts

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About Wynn Resorts

(Free Report)

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.

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Institutional Ownership by Quarter for Wynn Resorts (NASDAQ:WYNN)

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