Stock Traders Purchase High Volume of Wynn Resorts Call Options (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) saw unusually large options trading on Monday. Investors acquired 12,997 call options on the stock. This is an increase of approximately 101% compared to the average volume of 6,458 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a report on Wednesday, July 15th. Truist Financial initiated coverage on shares of Wynn Resorts in a research report on Wednesday, July 8th. They set a “buy” rating and a $125.00 target price on the stock. Mizuho cut their target price on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, July 28th. Finally, Barclays boosted their price target on Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.19.

Wynn Resorts Price Performance

Shares of WYNN stock traded down $2.80 during trading hours on Monday, hitting $92.46. 1,184,251 shares of the company’s stock were exchanged, compared to its average volume of 1,555,693. Wynn Resorts has a 52 week low of $92.25 and a 52 week high of $134.72. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 0.83 and a beta of 1.01. The stock’s 50-day moving average is $99.00 and its 200-day moving average is $102.33.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. Wynn Resorts’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts forecast that Wynn Resorts will post 4.65 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts’s dividend payout ratio is presently 24.81%.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in WYNN. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the second quarter worth about $25,000. Hantz Financial Services Inc. increased its holdings in shares of Wynn Resorts by 54.9% in the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Wynn Resorts in the fourth quarter worth about $32,000. Geneos Wealth Management Inc. raised its position in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the 4th quarter valued at about $34,000. 88.64% of the stock is owned by institutional investors.

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.