Traders Buy High Volume of Call Options on Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 41,417 call options on the company. This represents an increase of 71% compared to the average daily volume of 24,262 call options.

Wall Street Analyst Weigh In

A number of research firms recently commented on WYNN. Macquarie reissued an “outperform” rating and issued a $120.00 target price on shares of Wynn Resorts in a research note on Tuesday, November 5th. Morgan Stanley upped their target price on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus lowered 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. Finally, StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Up 7.9 %

Shares of WYNN traded up $6.81 during trading hours on Thursday, reaching $92.61. 4,823,987 shares of the company traded hands, compared to its average volume of 2,202,518. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The company’s fifty day moving average price is $91.52 and its two-hundred day moving average price is $88.27. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 3.08 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. On average, analysts expect that Wynn Resorts will post 4.87 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’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 sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently modified their holdings of WYNN. International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter worth approximately $25,000. Blue Trust Inc. raised its stake in Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after buying an additional 467 shares during the last quarter. Versant Capital Management Inc bought a new stake in Wynn Resorts in the second quarter worth $51,000. Covestor Ltd grew its stake in shares of Wynn Resorts by 421.7% in 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% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 68.87% 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.