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

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of unusually large options trading activity on Thursday. Investors purchased 67,846 call options on the company. This represents an increase of approximately 344% compared to the average volume of 15,267 call options.

Insiders Place Their Bets

In other news, 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, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 416,500 shares of company stock worth $29,254,547 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Wynn Resorts by 129.2% in the 4th quarter. SG Americas Securities LLC now owns 19,730 shares of the casino operator’s stock valued at $1,700,000 after acquiring an additional 87,283 shares during the last quarter. Lake Hills Wealth Management LLC bought a new position in Wynn Resorts in the 4th quarter worth $272,000. Exchange Traded Concepts LLC boosted its position in Wynn Resorts by 4.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 13,811 shares of the casino operator’s stock valued at $1,190,000 after acquiring an additional 589 shares in the last quarter. Fifth Third Bancorp boosted its stake in Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock worth $188,000 after acquiring an additional 119 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Wynn Resorts by 31.9% in the 4th quarter. Pacer Advisors Inc. now owns 21,909 shares of the casino operator’s stock worth $1,888,000 after purchasing an additional 5,294 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $90.91 on Friday. The company has a 50 day simple moving average of $82.09 and a two-hundred day simple moving average of $85.74. The firm has a market cap of $9.51 billion, a PE ratio of 21.59, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. As a group, research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 16th. Wynn Resorts’s dividend payout ratio is currently 27.78%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho cut their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Citigroup raised Wynn Resorts from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Wall Street Zen downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.92.

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.