Van ECK Associates Corp Sells 26,020 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Van ECK Associates Corp lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 38.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 42,311 shares of the casino operator’s stock after selling 26,020 shares during the period. Van ECK Associates Corp’s holdings in Wynn Resorts were worth $4,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter worth about $25,000. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc bought a new position in Wynn Resorts in the 2nd quarter worth approximately $51,000. Covestor Ltd raised its position in shares of Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after acquiring an additional 506 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after purchasing an additional 166 shares during the period. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $84.30 on Friday. The company’s 50-day moving average is $90.96 and its 200-day moving average is $88.56. The firm has a market capitalization of $9.26 billion, a PE ratio of 10.39, a P/E/G ratio of 2.35 and a beta of 1.80. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $0.99 EPS. Wynn Resorts’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Wynn Resorts, Limited will post 5.1 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Analyst Ratings Changes

WYNN has been the topic of a number of analyst reports. Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday. Morgan Stanley lifted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Susquehanna boosted their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% 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.