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

Wynn Resorts, Limited (NASDAQ:WYNN) saw unusually large options trading on Tuesday. Stock traders bought 23,457 call options on the company. This is an increase of approximately 55% compared to the average volume of 15,128 call options.

Wynn Resorts Trading Up 3.4%

Shares of WYNN stock opened at $127.47 on Wednesday. The firm’s fifty day moving average price is $123.33 and its two-hundred day moving average price is $111.00. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $134.23. The firm has a market capitalization of $13.25 billion, a P/E ratio of 38.28, a PEG ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. Wynn Resorts’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities research analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s payout ratio is 22.37%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the transaction, the director owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Wynn Resorts in the second quarter valued at $106,289,000. Palidye Holdings Caymans Ltd acquired a new stake in Wynn Resorts in the second quarter valued at $104,629,000. Zurich Insurance Group Ltd FI bought a new position in shares of Wynn Resorts in the 3rd quarter valued at about $110,213,000. Thrivent Financial for Lutherans increased its stake in shares of Wynn Resorts by 6,391.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock worth $70,138,000 after purchasing an additional 737,234 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Wynn Resorts in the 3rd quarter valued at about $73,588,000. Institutional investors own 88.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WYNN. Macquarie lifted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Wednesday, September 3rd. Morgan Stanley increased their target price on Wynn Resorts from $130.00 to $132.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price target for the company from $101.00 to $147.00 in a research note on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of “Buy” and an average target price of $134.69.

About Wynn Resorts

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.