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 Tuesday. Stock traders purchased 25,000 call options on the stock. This is an increase of approximately 60% compared to the average daily volume of 15,580 call options.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. International Assets Investment Management LLC acquired a new stake in shares of Wynn Resorts in the second quarter worth about $25,000. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at $37,000. Neo Ivy Capital Management acquired a new position in shares of Wynn Resorts during the fourth quarter worth approximately $40,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at $51,000. Institutional investors own 68.87% of the company’s stock.

Wynn Resorts Stock Performance

WYNN stock traded up $3.17 during midday trading on Tuesday, hitting $83.38. 2,605,096 shares of the stock were exchanged, compared to its average volume of 1,934,408. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.04 and a beta of 1.80. The stock’s 50-day moving average price is $78.24 and its 200-day moving average price is $89.45.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. Research analysts anticipate that Wynn Resorts will post 5.44 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Analysts Set New Price Targets

A number of research firms have recently commented on WYNN. Morgan Stanley reduced their price target on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Macquarie reaffirmed an “outperform” rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Jefferies Financial Group dropped their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. Finally, Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $113.73.

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.