CIBC Asset Management Inc Sells 447 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

CIBC Asset Management Inc trimmed its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,805 shares of the casino operator’s stock after selling 447 shares during the period. CIBC Asset Management Inc’s holdings in Wynn Resorts were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Regal Partners Ltd lifted its stake in shares of Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after buying an additional 174,005 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Wynn Resorts by 90.6% during the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after purchasing an additional 54,995 shares during the last quarter. Empirical Asset Management LLC purchased a new position in Wynn Resorts during the fourth quarter worth about $903,000. Crystal Rock Capital Management purchased a new position in Wynn Resorts during the third quarter worth about $719,000. Finally, ARGA Investment Management LP purchased a new position in Wynn Resorts during the third quarter worth about $2,174,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Stock Down 2.9 %

NASDAQ WYNN opened at $90.76 on Friday. The company’s 50 day moving average is $85.31 and its 200-day moving average is $87.34. Wynn Resorts, Limited has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market cap of $9.66 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Analysts Set New Price Targets

Several research firms recently weighed in on WYNN. Barclays boosted their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $120.58.

Insider Buying and Selling

In other news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is currently owned by insiders.

Wynn Resorts 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.