Wynn Resorts Sees Unusually Large Options Volume (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of unusually large options trading on Thursday. Stock traders bought 41,417 call options on the stock. This is an increase of approximately 71% compared to the average daily volume of 24,262 call options.

Analysts Set New Price Targets

A number of equities research analysts have commented on WYNN shares. Barclays reduced their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter valued at $25,000. Blue Trust Inc. lifted its holdings in Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new position in Wynn Resorts in the 2nd quarter worth about $51,000. Covestor Ltd grew its holdings in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after buying an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC increased its position 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 buying an additional 166 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ:WYNN traded up $6.81 during trading on Thursday, reaching $92.61. The company’s stock had a trading volume of 4,823,987 shares, compared to its average volume of 2,202,518. The firm has a 50 day moving average of $91.52 and a 200-day moving average of $88.27. The firm has a market cap 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 has a 12 month low of $71.63 and a 12 month high of $110.38.

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

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.08%. Wynn Resorts’s dividend payout ratio is presently 12.33%.

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.