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

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) saw some unusual options trading on Thursday. Traders acquired 41,417 call options on the stock. This is an increase of 71% compared to the typical volume of 24,262 call options.

Insider Activity

In other Wynn Resorts 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 transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $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 can be accessed through this link. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the 2nd quarter worth $25,000. Blue Trust Inc. boosted its stake in shares of Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator's stock valued at $49,000 after purchasing an additional 467 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at approximately $51,000. Covestor Ltd increased its position in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator's stock worth $64,000 after purchasing an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Wynn Resorts by 25.1% in the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator's stock valued at $74,000 after purchasing an additional 166 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

Wynn Resorts Price Performance

WYNN stock traded up $7.42 during trading hours on Thursday, reaching $93.22. 9,573,984 shares of the stock were exchanged, compared to its average volume of 2,223,964. The firm's 50-day moving average is $91.84 and its 200-day moving average is $88.30. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 3.08 and a beta of 1.80. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business's revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. As a group, equities research analysts forecast that Wynn Resorts will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, November 15th. Wynn Resorts's dividend payout ratio is 12.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WYNN shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a "positive" rating in a research report on Friday, October 11th. Finally, Morgan Stanley boosted their target price on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.71.

Wynn Resorts Company Profile

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.