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

Wynn Resorts, Limited (NASDAQ:WYNN) was the target of unusually large options trading activity on Tuesday. Traders bought 35,808 call options on the stock. This represents an increase of 285% compared to the average daily volume of 9,294 call options.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds have recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. Root Financial Partners LLC bought a new position in Wynn Resorts in the third quarter worth $26,000. Manchester Capital Management LLC boosted its stake in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after buying an additional 300 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares during the period. Finally, MTM Investment Management LLC acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $31,000. 88.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WYNN has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. UBS Group lifted their price objective on Wynn Resorts from $147.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Susquehanna restated a “positive” rating and issued a $133.00 target price on shares of Wynn Resorts in a research note on Thursday, February 12th. Wells Fargo & Company dropped their target price on Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Barclays lifted their price target on Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.20.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded up $0.98 during mid-day trading on Tuesday, reaching $114.37. 2,529,679 shares of the company traded hands, compared to its average volume of 1,468,149. The company’s fifty day moving average is $118.12 and its two-hundred day moving average is $120.30. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.72. The stock has a market cap of $11.89 billion, a PE ratio of 38.12, a price-to-earnings-growth ratio of 9.79 and a beta of 1.06.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 38.04% and a net margin of 4.59%.The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company earned $2.42 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, February 23rd. Wynn Resorts’s dividend payout ratio (DPR) is 33.33%.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.