Is Wynn Resorts, Limited’s Fuel For Real? The Stock Was Bought By Option Traders

 Is Wynn Resorts, Limited's Fuel For Real? The Stock Was Bought By Option Traders

In today’s session Wynn Resorts, Limited (WYNN) registered an unusually high (2,435) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious WYNN increase. With 2,435 contracts traded and 35514 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: WYNN161021C00095000 closed last at: $5.8 or 25.6% down. About 3.28 million shares traded hands. Wynn Resorts, Limited (NASDAQ:WYNN) has risen 17.48% since March 1, 2016 and is uptrending. It has outperformed by 8.23% the S&P500.

Analysts await Wynn Resorts, Limited (NASDAQ:WYNN) to report earnings on October, 20. They expect $0.81 earnings per share, down 5.81% or $0.05 from last year’s $0.86 per share. WYNN’s profit will be $83.38M for 29.98 P/E if the $0.81 EPS becomes a reality. After $1.07 actual earnings per share reported by Wynn Resorts, Limited for the previous quarter, Wall Street now forecasts -24.30% negative EPS growth.

Wynn Resorts, Limited (NASDAQ:WYNN) Ratings Coverage

Out of 18 analysts covering Wynn Resorts (NASDAQ:WYNN), 8 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 44% are positive. $128 is the highest target while $54 is the lowest. The $92.78 average target is -4.50% below today’s ($97.15) stock price. Wynn Resorts has been the topic of 35 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Underperform” rating by Telsey Advisory Group given on Friday, September 25. JP Morgan maintained Wynn Resorts, Limited (NASDAQ:WYNN) on Thursday, October 8 with “Overweight” rating. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned “Buy” rating by UBS on Monday, March 7. The company was upgraded on Wednesday, September 2 by Credit Agricole. The rating was maintained by Deutsche Bank on Friday, March 18 with “Buy”. The firm earned “Outperform” rating on Friday, April 29 by CLSA. The firm earned “Hold” rating on Wednesday, April 13 by Deutsche Bank. The stock has “Market Perform” rating given by Telsey Advisory Group on Thursday, November 19. The rating was maintained by UBS with “Buy” on Friday, July 8. JP Morgan maintained Wynn Resorts, Limited (NASDAQ:WYNN) rating on Wednesday, March 30. JP Morgan has “Overweight” rating and $100 price target.

Insitutional Activity: The institutional sentiment decreased to 1.01 in 2016 Q2. Its down 0.37, from 1.38 in 2016Q1. The ratio turned negative, as 45 funds sold all Wynn Resorts, Limited shares owned while 135 reduced positions. 50 funds bought stakes while 131 increased positions. They now own 75.05 million shares or 4.08% less from 78.24 million shares in 2016Q1.
Nationwide Fund Advisors, a Pennsylvania-based fund reported 23,138 shares. Pacific Heights Asset Mgmt Limited Liability Corp has invested 1.28% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Hbk Invests Limited Partnership holds 0.16% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN) for 212,424 shares. Moreover, M&T Fincl Bank Corporation has 0.02% invested in Wynn Resorts, Limited (NASDAQ:WYNN) for 36,695 shares. Sector Pension Invest Board has invested 0.02% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Regions has 0.01% invested in the company for 9,584 shares. Atria Invs Ltd Liability holds 0.05% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN) for 5,607 shares. Texas Permanent School Fund, a Texas-based fund reported 26,420 shares. Independent Port Consultants holds 0.01% or 501 shares in its portfolio. Cubist Systematic Strategies Limited Co has invested 0.26% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Shell Asset Management accumulated 6,629 shares or 0.01% of the stock. Crystal Rock Cap has invested 4.84% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). The Missouri-based Enterprise Ser has invested 0.19% in Wynn Resorts, Limited (NASDAQ:WYNN). Massmutual Trust Fsb Adv holds 121 shares or 0% of its portfolio. Lateef Investment Management Lp holds 1.67M shares or 5.12% of its portfolio.

Wynn Resorts, Limited 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 has a market cap of $10.00 billion. The Firm operates through two divisions: Macau Operations and Las Vegas Operations. It has a 29.78 P/E ratio. In Macau, it owns interest in Wynn Macau, Limited and operates Wynn Macau and Encore at Wynn Macau.

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