Wynn Resorts Sees Unusually High Options Volume (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 55,411 call options on the company. This represents an increase of approximately 297% compared to the typical daily volume of 13,941 call options.

Wynn Resorts Stock Up 2.4 %

Shares of NASDAQ WYNN traded up $1.59 during trading hours on Wednesday, hitting $67.69. The company had a trading volume of 2,473,548 shares, compared to its average volume of 2,417,533. The stock has a market capitalization of $7.19 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. Wynn Resorts has a 1-year low of $64.87 and a 1-year high of $107.81. The firm’s 50 day moving average is $84.19 and its 200-day moving average is $88.96.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, sell-side analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.48%. Wynn Resorts’s dividend payout ratio is currently 23.75%.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several analyst reports. Mizuho raised their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Barclays raised their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.58.

Insider Activity at Wynn Resorts

In other news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were purchased at an average price of $67.62 per share, for a total transaction of $6,762,000.00. Following the acquisition, the insider now directly owns 13,000,000 shares of the company’s stock, valued at $879,060,000. This represents a 0.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip G. Satre bought 22,200 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 438,700 shares of company stock worth $31,300,943. 0.52% of the stock is owned by insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of WYNN. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after buying an additional 485,204 shares in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 26,792 shares during the period. Jefferies Financial Group Inc. grew its position in shares of Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock worth $145,059,000 after purchasing an additional 139,270 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock worth $139,300,000 after purchasing an additional 228,000 shares during the period. Finally, Norges Bank acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at 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.