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 Thursday. Traders acquired 80,638 call options on the company. This is an increase of 262% compared to the typical daily volume of 22,298 call options.

Insider Buying and Selling

In other news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Empirical Finance LLC raised its position in shares of Wynn Resorts by 3.7% in the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after buying an additional 114 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Wynn Resorts by 7.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after acquiring an additional 120 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock worth $496,000 after purchasing an additional 149 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock traded up $0.13 on Thursday, reaching $97.81. 1,345,080 shares of the company traded hands, compared to its average volume of 2,129,431. The firm has a market capitalization of $10.86 billion, a PE ratio of 13.20, a PEG ratio of 2.57 and a beta of 1.81. The company has a 50 day moving average of $86.88 and a 200 day moving average of $89.08. 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 Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. As a group, analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed 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 was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is 13.57%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WYNN shares. Stifel Nicolaus lowered their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. dropped their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price target on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Susquehanna upped their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.21.

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.