Stock Traders Buy High Volume of Wynn Resorts Call Options (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of some unusual options trading on Thursday. Stock traders bought 80,638 call options on the company. This is an increase of approximately 262% compared to the average volume of 22,298 call options.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts 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 completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its holdings in Wynn Resorts by 3.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock worth $1,231,000 after buying an additional 398 shares during the last quarter. Forsta AP Fonden increased its position in shares of Wynn Resorts by 609.7% during the third quarter. Forsta AP Fonden now owns 44,000 shares of the casino operator’s stock valued at $4,219,000 after acquiring an additional 37,800 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Wynn Resorts by 63.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,583 shares of the casino operator’s stock worth $740,000 after acquiring an additional 2,954 shares during the last quarter. Allworth Financial LP lifted its position in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Wynn Resorts by 24,083.8% during the 3rd quarter. International Assets Investment Management LLC now owns 68,682 shares of the casino operator’s stock valued at $6,585,000 after purchasing an additional 68,398 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wall Street Analyst Weigh In

WYNN has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.21.

Wynn Resorts Price Performance

NASDAQ WYNN traded up $0.13 during trading hours on Thursday, reaching $97.81. 1,345,080 shares of the company’s stock traded hands, compared to its average volume of 2,129,431. The firm has a market cap of $10.86 billion, a PE ratio of 13.20, a PEG ratio of 2.57 and a beta of 1.81. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The firm has a 50-day simple moving average of $86.88 and a 200 day simple moving average of $89.08.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Wynn Resorts will post 5.42 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Wynn Resorts’s dividend payout ratio is currently 13.57%.

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.