Canada Pension Plan Investment Board Purchases 149,123 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Canada Pension Plan Investment Board lifted its position in Wynn Resorts, Limited (NASDAQ:WYNN) by 455.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,900 shares of the casino operator’s stock after purchasing an additional 149,123 shares during the quarter. Canada Pension Plan Investment Board owned 0.16% of Wynn Resorts worth $16,280,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in Wynn Resorts in the 2nd quarter valued at $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth about $27,000. Register Financial Advisors LLC acquired a new stake in shares of Wynn Resorts during the 1st quarter worth about $37,000. Neo Ivy Capital Management acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $40,000. Finally, Versant Capital Management Inc bought a new position in Wynn Resorts during the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN opened at $80.21 on Tuesday. The firm has a market cap of $8.99 billion, a P/E ratio of 10.99, a PEG ratio of 2.04 and a beta of 1.80. Wynn Resorts, Limited has a twelve month low of $71.63 and a twelve month high of $110.38. The firm’s 50 day moving average price is $78.24 and its two-hundred day moving average price is $89.45.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Wynn Resorts, Limited will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley decreased their price target on Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Stifel Nicolaus lowered their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Macquarie restated an “outperform” rating and issued a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reduced their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.73.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

About Wynn Resorts

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.