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

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of some unusual options trading on Friday. Investors acquired 9,607 call options on the stock. This is an increase of 41% compared to the typical volume of 6,810 call options.

Wynn Resorts Price Performance

Shares of WYNN traded down $0.99 during midday trading on Friday, hitting $81.97. The stock had a trading volume of 800,748 shares, compared to its average volume of 1,578,276. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. The company has a 50 day simple moving average of $96.27 and a two-hundred day simple moving average of $100.07. Wynn Resorts has a twelve month low of $82.10 and a twelve month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 EPS. Analysts forecast that Wynn Resorts will post 4.55 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Wynn Resorts’s dividend payout ratio (DPR) is currently 24.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Barclays lifted their price target on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $133.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors raised its stake in shares of Wynn Resorts by 0.6% in the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock worth $1,148,236,000 after purchasing an additional 61,209 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Wynn Resorts during the 2nd quarter valued at $321,402,000. Egerton Capital UK LLP bought a new stake in Wynn Resorts in the 4th quarter worth approximately $249,053,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Wynn Resorts by 17.4% in the 1st quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock valued at $125,918,000 after acquiring an additional 184,000 shares during the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.