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

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of some unusual options trading on Tuesday. Investors acquired 25,000 call options on the company. This is an increase of 60% compared to the average volume of 15,580 call options.

Insider Activity

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

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently made changes to their positions in the stock. Empirical Finance LLC lifted its position in shares of Wynn Resorts by 3.7% during the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares in the last quarter. EntryPoint Capital LLC boosted its position in Wynn Resorts by 7.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after buying an additional 117 shares during the period. Fifth Third Bancorp grew its stake in shares of Wynn Resorts by 8.5% in the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after acquiring an additional 120 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Wynn Resorts by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock worth $496,000 after acquiring an additional 149 shares during the period. Finally, Garde Capital Inc. raised its stake in shares of Wynn Resorts by 10.1% in the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on WYNN. Jefferies Financial Group lowered their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Macquarie reaffirmed an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 7th. Morgan Stanley decreased their target price on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.73.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $84.13 on Thursday. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The stock has a market cap of $9.34 billion, a P/E ratio of 11.52, a P/E/G ratio of 2.07 and a beta of 1.80. The stock’s 50 day simple moving average is $78.19 and its 200-day simple moving average is $89.30.

Wynn Resorts (NASDAQ:WYNN) last posted 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). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. Wynn Resorts’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, research analysts expect that Wynn Resorts will post 5.44 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

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.