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

Wynn Resorts, Limited (NASDAQ:WYNN) saw unusually large options trading activity on Thursday. Stock investors bought 80,638 call options on the company. This represents an increase of approximately 262% compared to the average volume of 22,298 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WYNN shares. Wells Fargo & Company boosted their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Susquehanna boosted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Jefferies Financial Group dropped their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Four 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.21.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $97.90 on Friday. The firm has a 50-day moving average of $87.32 and a 200-day moving average of $89.14. The company has a market cap of $10.97 billion, a PE ratio of 13.41, a PEG ratio of 2.57 and a beta of 1.81. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business 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 company’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, equities research analysts expect that Wynn Resorts will post 5.42 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is presently 13.70%.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 2nd quarter worth about $25,000. Register Financial Advisors LLC bought a new stake in Wynn Resorts in the 1st quarter worth about $37,000. Blue Trust Inc. grew its position in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new stake in Wynn Resorts in the 2nd quarter worth about $51,000. Finally, Covestor Ltd grew its position in Wynn Resorts by 421.7% in the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

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.