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

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 21,314 call options on the stock. This is an increase of 14% compared to the average volume of 18,669 call options.

Wynn Resorts Stock Down 1.5 %

Shares of WYNN stock traded down $1.48 during mid-day trading on Wednesday, reaching $95.75. 4,248,989 shares of the stock traded hands, compared to its average volume of 1,822,194. The stock's fifty day simple moving average is $100.24 and its two-hundred day simple moving average is $95.39. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 16.01 and a beta of 1.91. Wynn Resorts has a 1-year low of $81.65 and a 1-year high of $113.50.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $0.29 EPS. The firm's revenue for the quarter was up 30.9% compared to the same quarter last year. On average, equities research analysts anticipate that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Wynn Resorts's payout ratio is presently 16.72%.

Insiders Place Their Bets

In related news, CEO Craig Scott Billings sold 19,235 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares of the company's stock, valued at $33,253,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the company's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now directly owns 522 shares in the company, valued at $54,898.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares of the company's stock, valued at approximately $33,253,632. The disclosure for this sale can be found here. Insiders have sold 26,578 shares of company stock valued at $2,850,282 in the last three months. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB grew its position in Wynn Resorts by 130.9% in the 4th quarter. Nordea Investment Management AB now owns 143,480 shares of the casino operator's stock valued at $13,101,000 after purchasing an additional 81,338 shares during the period. Van ECK Associates Corp grew its holdings in shares of Wynn Resorts by 51.8% during the fourth quarter. Van ECK Associates Corp now owns 55,787 shares of the casino operator's stock valued at $5,083,000 after buying an additional 19,031 shares during the last quarter. Synergy Asset Management LLC bought a new stake in shares of Wynn Resorts during the fourth quarter worth about $1,150,000. Keybank National Association OH raised its holdings in shares of Wynn Resorts by 8.1% in the 3rd quarter. Keybank National Association OH now owns 249,716 shares of the casino operator's stock worth $23,076,000 after acquiring an additional 18,802 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in Wynn Resorts by 11.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 6,202 shares of the casino operator's stock valued at $573,000 after purchasing an additional 633 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WYNN. Citigroup boosted their price objective on Wynn Resorts from $132.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays boosted their target price on shares of Wynn Resorts from $123.00 to $124.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. UBS Group dropped their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a "neutral" rating for the company in a research note on Tuesday, February 6th. Mizuho began coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They set a "buy" rating and a $131.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Wynn Resorts from $125.00 to $128.00 and gave the stock an "overweight" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Wynn Resorts presently has an average rating of "Moderate Buy" and an average price target of $122.64.

Wynn Resorts Company Profile

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.