Cibc World Market Inc. Sells 30,833 Shares of Wynn Resorts, Limited $WYNN

Cibc World Market Inc. lessened its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 64.3% in the fourth quarter, HoldingsChannel reports. The firm owned 17,090 shares of the casino operator’s stock after selling 30,833 shares during the period. Cibc World Market Inc.’s holdings in Wynn Resorts were worth $2,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WYNN. Palidye Holdings Caymans Ltd bought a new stake in Wynn Resorts in the second quarter valued at about $104,629,000. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter valued at about $122,696,000. Zurich Insurance Group Ltd FI bought a new stake in Wynn Resorts in the third quarter valued at about $110,213,000. Westfield Capital Management Co. LP bought a new stake in Wynn Resorts in the third quarter valued at about $73,588,000. Finally, Barclays PLC increased its holdings in Wynn Resorts by 121.3% in the third quarter. Barclays PLC now owns 506,945 shares of the casino operator’s stock valued at $65,026,000 after purchasing an additional 277,917 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Price Performance

WYNN stock opened at $107.44 on Wednesday. The stock has a market capitalization of $11.15 billion, a P/E ratio of 32.07, a P/E/G ratio of 0.98 and a beta of 0.98. The business has a 50-day moving average of $102.75 and a 200-day moving average of $110.76. Wynn Resorts, Limited has a fifty-two week low of $83.45 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.Wynn Resorts’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts expect that Wynn Resorts, Limited will post 4.61 EPS for the current year.

Wynn Resorts Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WYNN. Bank of America lowered their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, May 11th. Wells Fargo & Company set a $142.00 price target on Wynn Resorts and gave the stock an “overweight” rating in a report on Sunday, May 10th. Jefferies Financial Group lowered their price target on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 6th. UBS Group restated a “buy” rating on shares of Wynn Resorts in a report on Monday, February 23rd. Finally, Mizuho lowered their price target on Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.00.

Wynn Resorts Profile

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.