Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in Wynn Resorts, Limited (NASDAQ:WYNNFree Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,232 shares of the casino operator’s stock after selling 686 shares during the period. CIBC Asset Management Inc’s holdings in Wynn Resorts were worth $1,206,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Wynn Resorts during the fourth quarter worth about $38,000. Federated Hermes Inc. increased its position in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after acquiring an additional 140 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Wynn Resorts by 1,083.8% during the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after acquiring an additional 401 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Up 0.7 %

Shares of WYNN stock opened at $93.14 on Friday. The business has a 50 day moving average of $97.73 and a two-hundred day moving average of $96.30. Wynn Resorts, Limited has a 52 week low of $81.65 and a 52 week high of $112.25. The company has a market cap of $10.44 billion, a P/E ratio of 12.76 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last issued its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. Wynn Resorts’s quarterly revenue was up 30.9% compared to the same quarter last year. Analysts expect that Wynn Resorts, Limited will post 5.58 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WYNN shares. Barclays lifted their target price on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Mizuho started coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Thursday, May 23rd. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $121.31.

Check Out Our Latest Research Report on Wynn Resorts

Insider Transactions at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Wynn Resorts Profile

(Free Report)

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.

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

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