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

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on WYNN shares. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price objective on shares of Wynn Resorts in a research report on Friday, May 8th. Bank of America dropped their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Citigroup restated a “buy” rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Finally, Truist Financial started coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They set a “buy” rating and a $125.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.19.

Wynn Resorts Stock Performance

NASDAQ:WYNN traded down $2.80 during mid-day trading on Monday, hitting $92.46. 1,184,251 shares of the stock were exchanged, compared to its average volume of 1,555,693. The firm’s 50-day simple moving average is $99.00 and its 200 day simple moving average is $102.33. The stock has a market capitalization 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. Wynn Resorts has a fifty-two week low of $92.25 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 EPS. On average, analysts predict that Wynn Resorts will post 4.65 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

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

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors grew its position in shares of Wynn Resorts by 0.6% during the 4th 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 in the last quarter. California State Teachers Retirement System raised its position in shares of Wynn Resorts by 9,349.7% in the second quarter. California State Teachers Retirement System now owns 9,093,255 shares of the casino operator’s stock valued at $882,864,000 after buying an additional 8,997,027 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Wynn Resorts in the second quarter valued at approximately $609,566,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after buying an additional 320,502 shares during the period. Finally, Egerton Capital UK LLP acquired a new stake in Wynn Resorts during the fourth quarter worth approximately $249,053,000. 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.