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

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of unusually large options trading on Friday. Stock investors purchased 42,574 call options on the company. This is an increase of approximately 123% compared to the typical daily volume of 19,132 call options.

Wynn Resorts Trading Up 10.4 %

Shares of NASDAQ WYNN opened at $88.82 on Friday. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 2.32 and a beta of 1.76. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The stock’s 50-day moving average is $85.66 and its 200 day moving average is $86.83.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. On average, analysts forecast that Wynn Resorts will post 4.69 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.13%. Wynn Resorts’s payout ratio is 23.75%.

Analyst Ratings Changes

A number of analysts recently issued reports on WYNN shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus increased their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group dropped their price objective on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Mizuho raised their price target on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday. Three 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.50.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC bought a new position in Wynn Resorts during the 4th quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new position in Wynn Resorts during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the 4th quarter worth approximately $36,000. Spire Wealth Management grew its position in Wynn Resorts by 116.4% during the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after acquiring an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in Wynn Resorts during the 4th quarter worth approximately $45,000. 88.64% of the stock is currently owned by institutional investors.

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.