Canada Pension Plan Investment Board bought a new position in Wynn Resorts, Limited (NASDAQ:WYNN – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 259,771 shares of the casino operator’s stock, valued at approximately $27,434,000. Canada Pension Plan Investment Board owned approximately 0.23% of Wynn Resorts at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,424,780 shares of the casino operator’s stock worth $720,104,000 after purchasing an additional 100,246 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Wynn Resorts by 0.4% in the 1st quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock worth $545,957,000 after purchasing an additional 30,460 shares in the last quarter. State Street Corp raised its holdings in shares of Wynn Resorts by 0.8% in the 3rd quarter. State Street Corp now owns 3,883,921 shares of the casino operator’s stock worth $244,804,000 after purchasing an additional 31,684 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Wynn Resorts by 71.3% in the 2nd quarter. Fisher Asset Management LLC now owns 3,795,297 shares of the casino operator’s stock worth $400,821,000 after purchasing an additional 1,579,337 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Wynn Resorts by 2.4% in the 1st quarter. Geode Capital Management LLC now owns 2,278,522 shares of the casino operator’s stock worth $254,444,000 after purchasing an additional 54,183 shares in the last quarter. 61.88% of the stock is currently owned by institutional investors.
Wynn Resorts Stock Up 3.1 %
WYNN stock opened at $87.12 on Wednesday. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 1,089.14 and a beta of 2.01. Wynn Resorts, Limited has a 12 month low of $72.73 and a 12 month high of $117.86. The firm has a 50 day moving average of $91.43 and a two-hundred day moving average of $99.62.
Wynn Resorts Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 17th. Wynn Resorts’s dividend payout ratio is 1,250.16%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on WYNN shares. Morgan Stanley cut their price target on shares of Wynn Resorts from $113.00 to $109.00 and set an “equal weight” rating on the stock in a report on Friday, October 13th. Stifel Nicolaus cut their price target on shares of Wynn Resorts from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Barclays boosted their price target on shares of Wynn Resorts from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, July 21st. HSBC started coverage on shares of Wynn Resorts in a report on Monday, October 23rd. They set a “buy” rating and a $111.00 price target on the stock. Finally, StockNews.com started coverage on shares of Wynn Resorts in a report on Thursday, October 5th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $120.91.
Insiders Place Their Bets
In related news, Director Patricia Mulroy sold 500 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $97.61, for a total transaction of $48,805.00. Following the completion of the sale, the director now directly owns 1,482 shares of the company’s stock, valued at approximately $144,658.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.
Wynn Resorts Company 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.
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