Cibc World Market Inc. Has $2.06 Million Stake in Wynn Resorts, Limited $WYNN

Cibc World Market Inc. decreased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 64.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,090 shares of the casino operator’s stock after selling 30,833 shares during the quarter. Cibc World Market Inc.’s holdings in Wynn Resorts were worth $2,056,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wynn Resorts by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after purchasing an additional 754 shares in the last quarter. Woodline Partners LP boosted its stake in Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after purchasing an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Wynn Resorts by 13.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after purchasing an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Wynn Resorts by 9.5% in the second quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after purchasing an additional 868 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. Mizuho reduced their price objective on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Susquehanna reduced their price objective on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Bank of America reduced their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Finally, Jefferies Financial Group dropped their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

Wynn Resorts Stock Up 2.5%

WYNN stock opened at $107.44 on Wednesday. The company has a market cap of $11.15 billion, a P/E ratio of 32.07, a PEG ratio of 0.98 and a beta of 0.98. Wynn Resorts, Limited has a twelve month low of $83.45 and a twelve month high of $134.72. The business has a fifty day moving average of $102.75 and a 200-day moving average of $110.76.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 4.61 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio is currently 29.85%.

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.