Van ECK Associates Corp Has $4.13 Million Stock Holdings in Wynn Resorts, Limited (NASDAQ:WYNN)

Van ECK Associates Corp lessened its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 38.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Blue Trust Inc. increased its position in Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock worth $49,000 after buying an additional 467 shares during the period. Versant Capital Management Inc acquired a new position in shares of Wynn Resorts during the second quarter valued at $51,000. Covestor Ltd grew 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 increased its holdings in shares of Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock worth $74,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 68.87% of the company's stock.

Wynn Resorts Trading Down 3.3 %

Shares of WYNN traded down $2.87 during midday trading on Friday, hitting $84.30. The stock had a trading volume of 4,116,487 shares, compared to its average volume of 2,180,153. Wynn Resorts, Limited has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The firm has a market cap of $9.26 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.80. The business has a 50-day simple moving average of $90.96 and a two-hundred day simple moving average of $88.56.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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). The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. On average, analysts expect that Wynn Resorts, Limited will post 5.1 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is 12.33%.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of analyst reports. Macquarie reiterated an "outperform" rating and set a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a research note on Tuesday. Stifel Nicolaus reduced their price target on shares of 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 raised Wynn Resorts to a "hold" rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company decreased their price target on Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of "Moderate Buy" and an average price target of $115.71.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company's stock, valued at $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

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.