Traders Buy High Volume of Call Options on Wynn Resorts (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders bought 55,411 call options on the company. This represents an increase of 297% compared to the typical daily volume of 13,941 call options.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WYNN shares. Stifel Nicolaus raised their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Macquarie reissued an "outperform" rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Jefferies Financial Group raised Wynn Resorts from a "hold" rating to a "buy" rating and increased their price objective for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Mizuho upped their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, February 14th. Finally, Barclays raised their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $119.58.

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Wynn Resorts Trading Up 0.5 %

Wynn Resorts stock traded up $0.35 during mid-day trading on Monday, hitting $73.54. 2,602,274 shares of the company's stock were exchanged, compared to its average volume of 2,460,578. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $107.81. The stock has a 50 day moving average of $83.27 and a two-hundred day moving average of $88.66. The stock has a market cap of $7.81 billion, a P/E ratio of 17.47, a P/E/G ratio of 2.35 and a beta of 1.53.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued 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. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, research analysts predict that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts's dividend payout ratio is currently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the acquisition, the director now owns 34,195 shares in the company, valued at approximately $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Tilman J. Fertitta acquired 100,000 shares of Wynn Resorts stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the completion of the purchase, the insider now directly owns 13,000,000 shares of the company's stock, valued at approximately $879,060,000. This represents a 0.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 438,700 shares of company stock worth $31,300,943 in the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after purchasing an additional 485,204 shares during the last quarter. Geode Capital Management LLC grew its holdings in Wynn Resorts by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock valued at $209,120,000 after buying an additional 26,792 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in Wynn Resorts by 9.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock valued at $145,059,000 after buying an additional 139,270 shares during the last quarter. Renaissance Technologies LLC increased its position in Wynn Resorts by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock worth $139,300,000 after buying an additional 228,000 shares during the period. Finally, Norges Bank acquired a new position in shares of Wynn Resorts during the fourth quarter worth approximately $117,352,000. Institutional investors own 88.64% of the company's stock.

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.