Wynn Resorts, Limited (NASDAQ:WYNN) Stock Position Lifted by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in shares of Wynn Resorts, Limited (NASDAQ:WYNN - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,787 shares of the casino operator's stock after buying an additional 19,031 shares during the quarter. Van ECK Associates Corp's holdings in Wynn Resorts were worth $5,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator's stock worth $25,000 after buying an additional 270 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator's stock worth $28,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Wynn Resorts during the fourth quarter worth about $38,000. Federated Hermes Inc. grew its holdings in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator's stock worth $40,000 after buying an additional 140 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 1,083.8% during the fourth quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator's stock worth $40,000 after buying an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company's stock.

Wynn Resorts Stock Up 1.5 %

Shares of Wynn Resorts stock traded up $1.44 during trading on Friday, hitting $96.71. 1,323,195 shares of the company were exchanged, compared to its average volume of 1,506,474. Wynn Resorts, Limited has a fifty-two week low of $81.65 and a fifty-two week high of $113.50. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 16.17 and a beta of 1.91. The firm has a 50 day moving average price of $100.60 and a 200 day moving average price of $95.19.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.76. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted ($1.23) EPS. The company's quarterly revenue was up 83.1% compared to the same quarter last year. Analysts predict that Wynn Resorts, Limited will post 5.37 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Tuesday, February 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, February 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts's dividend payout ratio is currently 16.72%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Wynn Resorts from $123.00 to $124.00 and gave the company an "overweight" rating in a report on Friday, April 19th. Bank Of America (Bofa) lifted their price objective on Wynn Resorts from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 17th. Mizuho assumed coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a "buy" rating and a $131.00 price objective on the stock. Macquarie lifted their price objective on Wynn Resorts from $122.00 to $128.00 and gave the company an "outperform" rating in a report on Friday, February 9th. Finally, Susquehanna lifted their price objective on Wynn Resorts from $105.00 to $115.00 and gave the company a "positive" rating in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.43.

Insider Buying and Selling

In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Wynn Resorts news, CEO Craig Scott Billings sold 19,235 shares of the business's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at approximately $33,253,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Julie Cameron-Doe sold 6,383 shares of the business's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the transaction, the chief financial officer now owns 78,150 shares of the company's stock, valued at $8,226,850.50. The disclosure for this sale can be found here. Insiders sold 26,578 shares of company stock worth $2,850,282 in the last ninety days. 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.