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

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 21,314 call options on the company. This represents an increase of 14% compared to the average volume of 18,669 call options.

Wynn Resorts Price Performance

NASDAQ WYNN traded down $2.40 during mid-day trading on Wednesday, reaching $94.83. The stock had a trading volume of 1,852,981 shares, compared to its average volume of 1,793,621. The company has a fifty day moving average price of $100.38 and a 200 day moving average price of $95.38. Wynn Resorts has a 1 year low of $81.65 and a 1 year high of $113.50. The stock has a market cap of $10.63 billion, a PE ratio of 15.96 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 earnings per share. As a group, equities research analysts expect that Wynn Resorts will post 5.37 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. Wynn Resorts’s payout ratio is currently 16.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WYNN shares. Barclays upped their price target on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Morgan Stanley increased their price target on Wynn Resorts from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their price objective on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.64.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after buying an additional 270 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Wynn Resorts in the fourth quarter worth $27,000. Sunbelt Securities Inc. increased its stake in Wynn Resorts by 4,285.7% during the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after acquiring an additional 300 shares during the last quarter. Register Financial Advisors LLC bought a new stake in Wynn Resorts in the first quarter worth $37,000. Finally, GAMMA Investing LLC bought a new position in Wynn Resorts during the 4th quarter valued at about $38,000. 68.87% of the stock is 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.