Wynn Resorts Target of Unusually High Options Trading (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of unusually large options trading activity on Thursday. Traders bought 41,417 call options on the stock. This represents an increase of 71% compared to the typical daily volume of 24,262 call options.

Wynn Resorts Stock Down 2.4 %

NASDAQ:WYNN opened at $90.74 on Friday. The business’s 50-day simple moving average is $92.12 and its two-hundred day simple moving average is $88.26. The stock has a market cap of $9.97 billion, a PE ratio of 11.19, a P/E/G ratio of 3.09 and a beta of 1.80. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $0.99 earnings per share. Wynn Resorts’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that Wynn Resorts will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. Wynn Resorts’s payout ratio is 12.33%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the 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 directly owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. M&T Bank Corp boosted its stake in shares of Wynn Resorts by 8.7% during the third quarter. M&T Bank Corp now owns 4,358 shares of the casino operator’s stock valued at $418,000 after purchasing an additional 348 shares in the last quarter. Groupama Asset Managment purchased a new stake in Wynn Resorts during the third quarter worth $212,000. Nomura Asset Management Co. Ltd. boosted its position in Wynn Resorts by 15.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 30,977 shares of the casino operator’s stock valued at $2,970,000 after acquiring an additional 4,212 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Wynn Resorts by 135.7% in the 3rd quarter. MML Investors Services LLC now owns 17,000 shares of the casino operator’s stock valued at $1,630,000 after acquiring an additional 9,788 shares during the period. Finally, EP Wealth Advisors LLC bought a new position in shares of Wynn Resorts in the 3rd quarter worth $290,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays reduced their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

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.