Wynn Resorts Sees Unusually Large Options Volume (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) saw some unusual options trading activity on Tuesday. Stock investors acquired 25,000 call options on the company. This is an increase of 60% compared to the typical volume of 15,580 call options.

Wynn Resorts Stock Up 4.9 %

Shares of Wynn Resorts stock opened at $84.16 on Wednesday. The stock has a market capitalization of $9.43 billion, a P/E ratio of 11.53, a PEG ratio of 2.04 and a beta of 1.80. The stock has a 50 day moving average price of $78.21 and a two-hundred day moving average price of $89.34. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

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

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders 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 dividend on an annualized basis and a yield of 1.19%. Wynn Resorts’s payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s 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 sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in Wynn Resorts during the second quarter worth $25,000. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts in the 4th quarter worth $27,000. Register Financial Advisors LLC acquired a new stake in Wynn Resorts in the 1st quarter worth $37,000. Neo Ivy Capital Management acquired a new stake in Wynn Resorts in the 4th quarter worth $40,000. Finally, Versant Capital Management Inc acquired a new stake in Wynn Resorts in the 2nd quarter worth $51,000. Institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WYNN shares. JPMorgan Chase & Co. dropped their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus dropped their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Macquarie reiterated an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group dropped their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.