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

Wynn Resorts, Limited (NASDAQ:WYNN) saw some unusual options trading on Tuesday. Stock traders bought 35,808 call options on the stock. This is an increase of approximately 285% compared to the typical volume of 9,294 call options.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wynn Resorts in a report on Monday, December 29th. UBS Group raised their target price on shares of Wynn Resorts from $147.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Morgan Stanley boosted their price target on Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, JPMorgan Chase & Co. raised their price objective on Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus target price of $139.20.

Wynn Resorts Trading Up 1.7%

Shares of NASDAQ WYNN opened at $116.31 on Thursday. The firm has a market cap of $12.09 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 10.40 and a beta of 1.06. The business’s 50 day moving average is $117.78 and its 200-day moving average is $120.31. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.16). The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 earnings per share. Analysts forecast that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a $0.25 dividend. The ex-dividend date is Monday, February 23rd. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts’s payout ratio is 33.33%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. MUFG Securities EMEA plc acquired a new position in shares of Wynn Resorts during the 2nd quarter worth $25,000. Root Financial Partners LLC bought a new position in Wynn Resorts in the third quarter valued at about $26,000. Manchester Capital Management LLC raised its stake in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares during the last quarter. Finally, MTM Investment Management LLC bought a new position in shares of Wynn Resorts in the second quarter worth about $31,000. 88.64% of the stock is owned by institutional investors.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.