Wynn Resorts, Limited (NASDAQ:WYNN) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its position in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 93.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 343 shares of the casino operator's stock after selling 5,324 shares during the period. CIBC Private Wealth Group LLC's holdings in Wynn Resorts were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in Wynn Resorts in the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wynn Resorts in the third quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new stake in Wynn Resorts during the fourth quarter worth about $36,000. Spire Wealth Management grew its position in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator's stock worth $37,000 after buying an additional 234 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after acquiring an additional 122 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Stock Performance

NASDAQ WYNN traded up $0.32 during trading hours on Monday, hitting $73.51. 1,392,638 shares of the company's stock were exchanged, compared to its average volume of 2,456,097. The firm has a market capitalization of $7.80 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. The business's 50 day moving average is $83.27 and its 200-day moving average is $88.66. Wynn Resorts, Limited has a 12-month low of $65.25 and a 12-month high of $107.81.

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Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping 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 business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. As a group, equities research analysts anticipate that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. Wynn Resorts's dividend payout ratio is presently 23.75%.

Insider Transactions at Wynn Resorts

In related news, Director Philip G. Satre acquired 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta bought 300,000 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $70.37 per share, with a total value of $21,111,000.00. Following the completion of the purchase, the insider now directly owns 12,900,000 shares of the company's stock, valued at approximately $907,773,000. This trade represents a 2.38 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 438,700 shares of company stock worth $31,300,943 in the last ninety days. Insiders own 0.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and upped their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Morgan Stanley dropped their price target on Wynn Resorts from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Monday, February 24th. StockNews.com lowered shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Macquarie restated an "outperform" rating and set a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $119.58.

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.