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

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 80,638 call options on the stock. This represents an increase of approximately 262% compared to the average volume of 22,298 call options.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday. Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Finally, Macquarie restated an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.21.

Wynn Resorts Price Performance

WYNN opened at $97.99 on Friday. The firm has a market cap of $10.98 billion, a PE ratio of 13.42, a P/E/G ratio of 2.57 and a beta of 1.81. The stock has a 50-day moving average price of $87.75 and a 200-day moving average price of $89.08. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Wynn Resorts will post 5.42 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.02%. Wynn Resorts’s dividend payout ratio is 13.70%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WYNN. American International Group Inc. lifted its position in Wynn Resorts by 2.7% during the fourth quarter. American International Group Inc. now owns 26,442 shares of the casino operator’s stock valued at $2,409,000 after purchasing an additional 699 shares during the period. Global Assets Advisory LLC bought a new position in shares of Wynn Resorts during the 1st quarter valued at $2,796,000. Register Financial Advisors LLC purchased a new position in shares of Wynn Resorts in the 1st quarter worth $37,000. Hodges Capital Management Inc. increased its position in Wynn Resorts by 45.9% during the first quarter. Hodges Capital Management Inc. now owns 217,238 shares of the casino operator’s stock valued at $22,209,000 after acquiring an additional 68,327 shares during the last quarter. Finally, First Dallas Securities Inc. lifted its holdings in Wynn Resorts by 70.6% in the first quarter. First Dallas Securities Inc. now owns 20,350 shares of the casino operator’s stock valued at $2,080,000 after acquiring an additional 8,423 shares during the period. Hedge funds and other 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.