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

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

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction 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 sale, 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 hyperlink. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. increased its stake in shares of Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after purchasing an additional 7,380 shares during the period. Concord Investment Counsel Inc. acquired a new stake in shares of Wynn Resorts in the first quarter valued at approximately $2,461,000. CIBC Private Wealth Group LLC acquired a new position in Wynn Resorts during the fourth quarter valued at approximately $1,376,000. UniSuper Management Pty Ltd lifted its stake in Wynn Resorts by 540.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after purchasing an additional 8,590 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WYNN shares. Deutsche Bank Aktiengesellschaft cut their price target 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. Morgan Stanley lowered their target price on shares of Wynn Resorts from $107.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Seaport Res Ptn upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Five 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.73.

Wynn Resorts Price Performance

NASDAQ:WYNN traded up $3.17 during trading hours on Tuesday, reaching $83.38. 2,605,096 shares of the company traded hands, compared to its average volume of 1,934,408. The firm’s 50-day moving average is $78.24 and its 200-day moving average is $89.45. The stock has a market cap of $9.34 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.04 and a beta of 1.80. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, research analysts predict that Wynn Resorts will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 1.20%. Wynn Resorts’s payout ratio 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.