CIBC Asset Management Inc raised its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 3.3% during the third quarter, HoldingsChannel.com reports. The firm owned 14,140 shares of the casino operator’s stock after purchasing an additional 453 shares during the period. CIBC Asset Management Inc’s holdings in Wynn Resorts were worth $1,797,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in Wynn Resorts by 115.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock valued at $103,000 after purchasing an additional 329 shares during the period. North Star Investment Management Corp. purchased a new stake in Wynn Resorts in the second quarter valued at $122,000. Atlas Capital Advisors LLC purchased a new stake in Wynn Resorts in the second quarter valued at $130,000. Whittier Trust Co. raised its position in Wynn Resorts by 157.5% in the second quarter. Whittier Trust Co. now owns 811 shares of the casino operator’s stock valued at $169,000 after purchasing an additional 496 shares during the period. Finally, Dupont Capital Management Corp raised its position in Wynn Resorts by 87.9% in the second quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock valued at $138,000 after purchasing an additional 385 shares during the period. Institutional investors own 75.23% of the company’s stock.
WYNN has been the topic of a number of research analyst reports. Credit Suisse Group reduced their target price on Wynn Resorts from $137.00 to $119.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 23rd. Bank of America restated a “hold” rating and issued a $125.00 target price on shares of Wynn Resorts in a research report on Tuesday, October 16th. ValuEngine downgraded Wynn Resorts from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. BidaskClub downgraded Wynn Resorts from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 29th. Finally, Barclays reduced their target price on Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating on the stock in a research report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $168.11.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Wednesday, November 7th. The casino operator reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm posted $1.52 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Wynn Resorts, Limited will post 7.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, November 21st will be paid a $0.75 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.05%. Wynn Resorts’s payout ratio is presently 54.95%.
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About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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