Van ECK Associates Corp Buys 19,031 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Van ECK Associates Corp increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by 51.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 55,787 shares of the casino operator’s stock after purchasing an additional 19,031 shares during the quarter. Van ECK Associates Corp’s holdings in Wynn Resorts were worth $5,083,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Wynn Resorts by 130.9% in the 4th quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator’s stock worth $13,101,000 after purchasing an additional 81,338 shares during the period. Synergy Asset Management LLC bought a new stake in Wynn Resorts during the fourth quarter valued at about $1,150,000. Keybank National Association OH raised its holdings in Wynn Resorts by 8.1% during the third quarter. Keybank National Association OH now owns 249,716 shares of the casino operator’s stock valued at $23,076,000 after acquiring an additional 18,802 shares during the period. Kestra Advisory Services LLC raised its holdings in Wynn Resorts by 11.4% during the third quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator’s stock valued at $573,000 after acquiring an additional 633 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Wynn Resorts during the fourth quarter valued at about $10,228,000. 68.87% of the stock is owned by institutional investors.

Wynn Resorts Trading Up 1.5 %

WYNN opened at $96.71 on Friday. The firm has a market cap of $10.84 billion, a P/E ratio of 16.17 and a beta of 1.91. Wynn Resorts, Limited has a 12 month low of $81.65 and a 12 month high of $113.50. The stock has a 50-day moving average of $100.60 and a 200 day moving average of $95.15.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, February 7th. The casino operator reported $1.91 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 company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted ($1.23) earnings per share. The firm’s revenue was up 83.1% on a year-over-year basis. On average, research analysts forecast that Wynn Resorts, Limited will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now owns 522 shares in the company, valued at $54,898.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the sale, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares of the company’s stock, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders sold 26,578 shares of company stock worth $2,850,282 over the last 90 days. Company insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WYNN shares. Bank Of America (Bofa) raised their price target on Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Barclays lifted their target price on Wynn Resorts from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, Susquehanna lifted their target price on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $121.43.

Wynn Resorts 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.