Investors Buy Large Volume of Wynn Resorts Call Options (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of unusually large options trading on Friday. Traders acquired 95,087 call options on the stock. This represents an increase of 578% compared to the average daily volume of 14,018 call options.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of Wynn Resorts stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Wynn Resorts during the 2nd quarter valued at $106,289,000. Palidye Holdings Caymans Ltd bought a new stake in Wynn Resorts during the second quarter valued at about $104,629,000. Thrivent Financial for Lutherans grew its stake in Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after purchasing an additional 737,234 shares during the last quarter. Greenwich Wealth Management LLC purchased a new position in Wynn Resorts in the second quarter valued at about $46,845,000. Finally, Nuveen LLC bought a new position in Wynn Resorts in the first quarter worth about $41,731,000. Institutional investors own 88.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WYNN shares. Macquarie lifted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. The Goldman Sachs Group lifted their target price on Wynn Resorts from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. increased their price target on Wynn Resorts from $123.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Wednesday, September 3rd. Finally, Morgan Stanley upped their price objective on Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.42.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN traded up $4.00 during trading on Friday, reaching $126.54. 2,377,380 shares of the company were exchanged, compared to its average volume of 2,286,855. The business’s fifty day simple moving average is $123.54 and its 200-day simple moving average is $106.91. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $134.23. The firm has a market capitalization of $13.16 billion, a PE ratio of 38.02, a P/E/G ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 30.03%.

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.