Van ECK Associates Corp Buys 29,931 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Van ECK Associates Corp boosted its stake in Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 70.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,242 shares of the casino operator's stock after purchasing an additional 29,931 shares during the period. Van ECK Associates Corp owned about 0.07% of Wynn Resorts worth $6,224,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC boosted its position in Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator's stock valued at $654,000 after buying an additional 112 shares during the period. Fifth Third Bancorp raised its stake in shares of Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock valued at $188,000 after acquiring an additional 119 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock worth $86,000 after purchasing an additional 133 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Wynn Resorts by 1.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,798 shares of the casino operator's stock worth $844,000 after purchasing an additional 176 shares during the last quarter. Finally, Prospera Financial Services Inc increased its holdings in Wynn Resorts by 4.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator's stock valued at $443,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WYNN. Macquarie reiterated an "outperform" rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Mizuho upped their price objective on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Finally, Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $120.58.

Insider Buying and Selling

In other news, Director Philip G. Satre acquired 22,200 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Stock Down 2.9 %

Shares of NASDAQ WYNN traded down $2.71 on Friday, reaching $90.76. 2,961,032 shares of the company's stock traded hands, compared to its average volume of 2,922,238. The business's 50 day simple moving average is $85.31 and its two-hundred day simple moving average is $87.26. Wynn Resorts, Limited has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market cap of $9.66 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Analysts forecast that Wynn Resorts, Limited will post 5.17 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, March 5th. Stockholders of record on Monday, February 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts's dividend payout ratio is presently 23.75%.

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.