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

Wynn Resorts, Limited (NASDAQ:WYNN) saw some unusual options trading on Tuesday. Stock investors bought 35,808 call options on the company. This is an increase of 285% compared to the average volume of 9,294 call options.

Wynn Resorts Trading Up 0.9%

Shares of NASDAQ WYNN traded up $0.98 during mid-day trading on Tuesday, reaching $114.37. The company had a trading volume of 2,529,679 shares, compared to its average volume of 1,468,149. The company has a 50-day moving average price of $118.12 and a two-hundred day moving average price of $120.30. The stock has a market cap of $11.89 billion, a PE ratio of 38.12, a P/E/G ratio of 9.79 and a beta of 1.06. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.72.

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

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Wynn Resorts’s payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

WYNN has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday, December 29th. Morgan Stanley boosted their target price on Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Macquarie Infrastructure reaffirmed an “outperform” rating and set a $143.00 price target on shares of Wynn Resorts in a research note on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 price target on Wynn Resorts in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.20.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted 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 valued at $30,000 after purchasing an additional 89 shares in the last quarter. Horizon Investments LLC raised its position in Wynn Resorts by 6.7% during the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after buying an additional 94 shares during the period. Westside Investment Management Inc. lifted its stake in Wynn Resorts by 40.2% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock worth $44,000 after acquiring an additional 97 shares in the last quarter. Private Wealth Partners LLC boosted its position in Wynn Resorts by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock worth $315,000 after acquiring an additional 100 shares during the period. Finally, Parallel Advisors LLC boosted its position in Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.