CIBC Asset Management Inc Buys 1,017 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

CIBC Asset Management Inc increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,252 shares of the casino operator’s stock after purchasing an additional 1,017 shares during the quarter. CIBC Asset Management Inc’s holdings in Wynn Resorts were worth $1,366,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WYNN. Renaissance Technologies LLC boosted its stake in shares of Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares during the period. Janus Henderson Group PLC boosted its position in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares during the period. Regal Partners Ltd grew its holdings in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares during the last quarter. Bamco Inc. NY increased its position in shares of Wynn Resorts by 5.1% in the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after acquiring an additional 38,160 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Wynn Resorts by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 568,686 shares of the casino operator’s stock worth $50,897,000 after purchasing an additional 23,314 shares during the period. 68.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Stock Down 0.0 %

NASDAQ WYNN opened at $91.22 on Thursday. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The business has a 50-day moving average price of $93.02 and a 200-day moving average price of $88.15. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 3.25 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

Wall Street Analyst Weigh In

A number of research firms have commented on WYNN. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Barclays decreased their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.71.

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.