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

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 41,417 call options on the stock. This represents an increase of 71% compared to the average daily volume of 24,262 call options.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $93.22 on Friday. The stock’s 50-day simple moving average is $91.84 and its two-hundred day simple moving average is $88.30. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 11.49, a PEG 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 posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business posted $0.99 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast 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. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.07%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Analyst Ratings Changes

Several brokerages recently commented on WYNN. Barclays cut their price objective on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. 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. Finally, Stifel Nicolaus cut their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund Corp lifted its position in shares of Wynn Resorts by 2.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 19,706 shares of the casino operator’s stock valued at $2,015,000 after buying an additional 531 shares in the last quarter. Sei Investments Co. lifted its holdings in Wynn Resorts by 5.6% during the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Wynn Resorts by 16.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 116,130 shares of the casino operator’s stock worth $12,996,000 after purchasing an additional 16,448 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Wynn Resorts by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,087 shares of the casino operator’s stock worth $12,276,000 after purchasing an additional 23,919 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Wynn Resorts during the 1st quarter valued at $235,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

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.