What’s Wynn Resorts, Limited Upside After Today’s Bullish Options Activity?

 What's Wynn Resorts, Limited Upside After Today's Bullish Options Activity?

In today’s session Wynn Resorts, Limited (WYNN) registered an unusually high (1,044) 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 1,044 contracts traded and 634 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: WYNN161021C00094000 closed last at: $3.2 or 24.7% down. About 1.14M shares traded hands. Wynn Resorts, Limited (NASDAQ:WYNN) has risen 9.56% since March 14, 2016 and is uptrending. It has outperformed by 3.95% the S&P500.

Analysts await Wynn Resorts, Limited (NASDAQ:WYNN) to report earnings on October, 20. They expect $0.81 EPS, down 5.81% or $0.05 from last year’s $0.86 per share. WYNN’s profit will be $81.10M for 28.73 P/E if the $0.81 EPS becomes a reality. After $1.07 actual EPS 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. Wynn Resorts has been the topic of 36 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned “Buy” rating by UBS on Monday, March 7. The company was downgraded on Wednesday, April 13 by Deutsche Bank. The firm has “Hold” rating by Deutsche Bank given on Wednesday, October 12. The stock has “Hold” rating given by Argus Research on Thursday, September 3. The firm has “Outperform” rating given on Friday, July 29 by Telsey Advisory Group. The stock has “Buy” rating given by Goldman Sachs on Friday, April 1. The firm earned “Outperform” rating on Friday, April 29 by CLSA. UBS downgraded Wynn Resorts, Limited (NASDAQ:WYNN) on Wednesday, July 20 to “Neutral” rating. On Wednesday, April 13 the stock rating was maintained by Citigroup with “Buy”. The firm earned “Underperform” rating on Friday, July 29 by CLSA.

According to Zacks Investment Research, “Wynn Resorts Limited and its wholly-owned subsidiaries Wynn Las Vegas and Wynn Capital will own and operate Le Reve, which they’ve designed to be the preeminent luxury hotel and destination casino resort in Las Vegas. Le Reve will be situated at the site of the former Desert Inn & Casino on the Las Vegas Strip in Las Vegas, Nevada.”

Insitutional Activity: The institutional sentiment decreased to 1.01 in 2016 Q2. Its down 0.37, from 1.38 in 2016Q1. The ratio worsened, 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.
First Mercantile accumulated 0.17% or 14,650 shares. The Montana-based Da Davidson And has invested 0.02% in Wynn Resorts, Limited (NASDAQ:WYNN). Columbus Circle owns 715,306 shares or 0.65% of their US portfolio. Delta Lloyd Nv has 5,782 shares for 0.02% of their US portfolio. Jane Street Group Ltd Liability Corp has invested 0.01% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Cornerstone Management Hldgs Ltd Company last reported 17,411 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) owns 6,509 shares or 0.01% of their US portfolio. First Republic Invest Mngmt has 0.04% invested in the company for 42,895 shares. Credit Agricole S A, a France-based fund reported 34,480 shares. Wellington Gru Llp holds 0.02% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN) for 812,544 shares. Gsa Cap Partners Llp, a United Kingdom-based fund reported 5,808 shares. M&T Comml Bank Corporation has 0.02% invested in the company for 36,695 shares. Pnc Serv Gp Inc Inc holds 0% or 8,183 shares in its portfolio. Gemmer Asset Mgmt Ltd Liability reported 54 shares or 0% of all its holdings. Lmr Prtn Llp owns 11,235 shares or 0.16% of their US 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 $9.32 billion. The Firm operates through two divisions: Macau Operations and Las Vegas Operations. It has a 28.76 P/E ratio. In Macau, it owns interest in Wynn Macau, Limited and operates Wynn Macau and Encore at Wynn Macau.

WYNN Company Profile

Wynn Resorts, Limited (Wynn Resorts), incorporated on June 3, 2002, 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 Firm operates through two divisions: Macau Operations and Las Vegas Operations. In Macau, it owns interest in Wynn Macau, Limited and operates Wynn Macau and Encore at Wynn Macau. In Las Vegas, Nevada, it owns and operates Wynn Las Vegas and Encore at Wynn Las Vegas. In addition, the Company is developing an integrated casino resort in Everett, Massachusetts.

More news for Wynn Resorts, Limited (NASDAQ:WYNN) were recently published by: Foxbusiness.com, which released: “Better Buy: Wynn Resorts Ltd. vs. MGM Resorts” on October 10, 2016. Fool.com‘s article titled: “3 Stocks With Better Dividends Than Wynn Resorts, Limited” and published on September 20, 2016 is yet another important article.

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