Wynn Resorts Target of Unusually Large Options Trading (NASDAQ:WYNN)

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

Analyst Ratings Changes

WYNN has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus decreased their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company dropped their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Barclays dropped their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Down 2.4 %

Shares of NASDAQ WYNN opened at $90.74 on Friday. The stock has a market capitalization of $9.97 billion, a P/E ratio of 11.19, a PEG ratio of 3.09 and a beta of 1.80. The stock’s 50 day moving average price is $92.12 and its two-hundred day moving average price is $88.26. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

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

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given 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 1.10%. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 556.0% in 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 period. Versant Capital Management Inc bought a new position in Wynn Resorts during the second quarter valued at about $51,000. Covestor Ltd grew its holdings in Wynn Resorts by 421.7% during 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 period. Finally, GAMMA Investing LLC raised its position in Wynn Resorts by 25.1% in the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock worth $74,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds 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.