Investors Purchase Large Volume of Call Options on Wynn Resorts, Limited (WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was the recipient of unusually large options trading on Friday. Investors purchased 13,002 call options on the company. This is an increase of approximately 118% compared to the typical volume of 5,956 call options.

Several equities research analysts have recently weighed in on the company. UBS Group AG restated a “buy” rating on shares of Wynn Resorts, Limited in a research note on Tuesday, April 11th. CLSA upgraded Wynn Resorts, Limited from an “underperform” rating to an “outperform” rating in a research note on Thursday, April 20th. Instinet restated a “neutral” rating on shares of Wynn Resorts, Limited in a research note on Monday. Stifel Nicolaus upped their target price on Wynn Resorts, Limited from $112.00 to $128.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Wells Fargo & Company restated a “neutral” rating on shares of Wynn Resorts, Limited in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $122.83.

Wynn Resorts, Limited (WYNN) opened at 133.55 on Wednesday. Wynn Resorts, Limited has a 12-month low of $82.51 and a 12-month high of $139.67. The company has a market cap of $13.59 billion, a PE ratio of 50.76 and a beta of 1.73. The company has a 50-day moving average price of $133.62 and a 200 day moving average price of $114.50.

Wynn Resorts, Limited (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, April 25th. The casino operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.28. Wynn Resorts, Limited had a return on equity of 264.58% and a net margin of 5.41%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue was up 47.9% on a year-over-year basis. On average, analysts forecast that Wynn Resorts, Limited will post $4.77 EPS for the current fiscal year.

In other news, EVP Kimmarie Sinatra sold 22,624 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $129.12, for a total value of $2,921,210.88. Following the completion of the sale, the executive vice president now directly owns 221,067 shares of the company’s stock, valued at $28,544,171.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matt Maddox sold 60,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $124.25, for a total value of $7,455,000.00. Following the completion of the sale, the president now directly owns 354,895 shares of the company’s stock, valued at $44,095,703.75. The disclosure for this sale can be found here. Insiders have sold 130,309 shares of company stock valued at $16,761,891 in the last ninety days. Company insiders own 13.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Visionary Asset Management Inc. acquired a new stake in shares of Wynn Resorts, Limited during the second quarter valued at approximately $372,000. Louisiana State Employees Retirement System raised its stake in shares of Wynn Resorts, Limited by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 5,000 shares of the casino operator’s stock valued at $671,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Wynn Resorts, Limited by 1.2% in the second quarter. Nisa Investment Advisors LLC now owns 24,461 shares of the casino operator’s stock valued at $3,262,000 after buying an additional 300 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Wynn Resorts, Limited by 509.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,234 shares of the casino operator’s stock valued at $1,775,000 after buying an additional 11,063 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Wynn Resorts, Limited by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 8,901 shares of the casino operator’s stock valued at $1,194,000 after buying an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 75.28% of the company’s stock.

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About Wynn Resorts, Limited

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

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