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

Wynn Resorts, Limited (NASDAQ:WYNN) saw some unusual options trading on Tuesday. Stock investors bought 37,492 put options on the company. This represents an increase of 114% compared to the typical daily volume of 17,522 put options.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WYNN shares. StockNews.com initiated coverage on shares of Wynn Resorts in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus reduced their target price on Wynn Resorts from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Morgan Stanley dropped their price target on Wynn Resorts from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 16th. Finally, HSBC began coverage on shares of Wynn Resorts in a research report on Monday, October 23rd. They set a “buy” rating and a $111.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.73.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $97.61, for a total transaction of $48,805.00. Following the completion of the transaction, the director now owns 1,482 shares of the company’s stock, valued at approximately $144,658.02. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Wynn Resorts

Institutional investors have recently modified their holdings of the business. Comerica Bank acquired a new position in shares of Wynn Resorts in the third quarter worth approximately $1,224,000. Jacobs Levy Equity Management Inc. raised its holdings in Wynn Resorts by 16.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 30,259 shares of the casino operator’s stock worth $2,796,000 after purchasing an additional 4,307 shares during the last quarter. Morgan Stanley lifted its position in shares of Wynn Resorts by 30.9% in the 3rd quarter. Morgan Stanley now owns 1,510,768 shares of the casino operator’s stock worth $139,610,000 after purchasing an additional 356,202 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Wynn Resorts by 7.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 81,020 shares of the casino operator’s stock valued at $7,487,000 after purchasing an additional 5,868 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of Wynn Resorts by 8.3% during the third quarter. Royal London Asset Management Ltd. now owns 40,006 shares of the casino operator’s stock worth $3,697,000 after buying an additional 3,052 shares during the period. Institutional investors own 61.88% of the company’s stock.

Wynn Resorts Trading Down 0.7 %

NASDAQ WYNN traded down $0.59 during trading on Tuesday, hitting $86.58. 1,140,287 shares of the company’s stock were exchanged, compared to its average volume of 2,311,907. The company has a market cap of $9.78 billion, a PE ratio of 1,089.76 and a beta of 2.01. Wynn Resorts has a fifty-two week low of $73.39 and a fifty-two week high of $117.86. The stock’s 50 day moving average price is $90.78 and its two-hundred day moving average price is $98.91.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, November 9th. The casino operator reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. Wynn Resorts had a net margin of 0.58% and a negative return on equity of 6.80%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the firm posted ($1.20) earnings per share. The company’s revenue was up 87.9% on a year-over-year basis. Analysts forecast that Wynn Resorts will post 3.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is currently 1,250.16%.

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.