Stock Traders Buy Large Volume of Wynn Resorts Call Options (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) saw unusually large options trading on Wednesday. Stock traders bought 55,411 call options on the company. This is an increase of approximately 297% compared to the average volume of 13,941 call options.

Wynn Resorts Stock Up 14.7 %

WYNN opened at $75.83 on Thursday. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $107.81. The business has a 50 day moving average of $83.69 and a 200-day moving average of $88.84. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, analysts expect that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre purchased 22,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tilman J. Fertitta acquired 5,025 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $80.99 per share, with a total value of $406,974.75. Following the completion of the acquisition, the insider now owns 10,905,025 shares of the company’s stock, valued at $883,197,974.75. This represents a 0.05 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 438,700 shares of company stock valued at $31,300,943 over the last 90 days. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. NBC Securities Inc. lifted its stake in Wynn Resorts by 100,056.3% during the first quarter. NBC Securities Inc. now owns 16,025 shares of the casino operator’s stock worth $1,338,000 after purchasing an additional 16,009 shares during the last quarter. Czech National Bank raised its holdings in shares of Wynn Resorts by 2.6% during the 1st quarter. Czech National Bank now owns 20,573 shares of the casino operator’s stock worth $1,718,000 after buying an additional 514 shares in the last quarter. Mirador Capital Partners LP lifted its position in shares of Wynn Resorts by 1.5% during the 1st quarter. Mirador Capital Partners LP now owns 47,236 shares of the casino operator’s stock worth $3,944,000 after buying an additional 700 shares during the last quarter. Rhumbline Advisers boosted its stake in Wynn Resorts by 14.5% in the first quarter. Rhumbline Advisers now owns 180,468 shares of the casino operator’s stock valued at $15,069,000 after buying an additional 22,875 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Wynn Resorts by 9,135.7% in the first quarter. GAMMA Investing LLC now owns 266,449 shares of the casino operator’s stock valued at $22,248,000 after acquiring an additional 263,564 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several research reports. Barclays raised their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Mizuho boosted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th. Finally, Morgan Stanley dropped their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.58.

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.