Wynn Resorts, Limited $WYNN Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 62.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,257 shares of the casino operator’s stock after selling 35,909 shares during the quarter. Van ECK Associates Corp’s holdings in Wynn Resorts were worth $2,064,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WYNN. Hantz Financial Services Inc. increased its stake in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the period. Horizon Investments LLC lifted its position in Wynn Resorts by 6.7% during the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after purchasing an additional 94 shares during the period. QRG Capital Management Inc. lifted its position in Wynn Resorts by 4.9% during the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after purchasing an additional 96 shares during the period. Parallel Advisors LLC boosted its holdings in Wynn Resorts by 21.6% in the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock valued at $72,000 after purchasing an additional 100 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Wynn Resorts by 23.5% during the 4th quarter. Larson Financial Group LLC now owns 557 shares of the casino operator’s stock worth $67,000 after purchasing an additional 106 shares during the period. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $91.54 on Friday. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.10 and a beta of 1.00. The stock has a 50 day simple moving average of $97.90 and a 200-day simple moving average of $101.64. Wynn Resorts, Limited has a 1-year low of $89.44 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. Analysts anticipate that Wynn Resorts, Limited will post 4.55 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s payout ratio is 24.81%.

Wall Street Analyst Weigh In

WYNN has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Barclays raised their target price on Wynn Resorts from $134.00 to $136.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Stifel Nicolaus set a $143.00 price target on Wynn Resorts in a report on Wednesday, August 5th. Citigroup restated a “buy” rating on shares of Wynn Resorts in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.82.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.