Is Wynn Resorts, Limited a Sell? The Stock Had Bearish Options Activity Today

 Is Wynn Resorts, Limited a Sell? The Stock Had Bearish Options Activity Today

In today’s session Wynn Resorts, Limited (WYNN) recorded an unusually high (5,060) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious WYNN decrease. With 5,060 contracts traded and 8074 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: WYNN170120P00105000 closed last at: $8.5 or 17.2% up. About 713,153 shares traded hands. Wynn Resorts, Limited (NASDAQ:WYNN) has risen 14.31% since April 28, 2016 and is uptrending. It has outperformed by 8.39% the S&P500.

Analysts await Wynn Resorts, Limited (NASDAQ:WYNN) to report earnings on February, 9. They expect $0.65 EPS, down 36.89% or $0.38 from last year’s $1.03 per share. WYNN’s profit will be $67.56M for 38.04 P/E if the $0.65 EPS becomes a reality. After $0.75 actual EPS reported by Wynn Resorts, Limited for the previous quarter, Wall Street now forecasts -13.33% negative EPS growth.

Wynn Resorts, Limited (NASDAQ:WYNN) Ratings Coverage

Out of 19 analysts covering Wynn Resorts (NASDAQ:WYNN), 8 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 42% are positive. $128 is the highest target while $54 is the lowest. The $93.92 average target is -5.04% below today’s ($98.9) stock price. Wynn Resorts has been the topic of 38 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, April 13 by Deutsche Bank. On Wednesday, April 13 the stock rating was maintained by Citigroup with “Buy”. Credit Agricole upgraded Wynn Resorts, Limited (NASDAQ:WYNN) on Wednesday, September 2 to “Buy” rating. As per Thursday, July 14, the company rating was downgraded by JP Morgan. On Thursday, October 8 the stock rating was maintained by JP Morgan with “Overweight”. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned “Neutral” rating by Sterne Agee CRT on Friday, March 11. On Friday, April 29 the stock rating was downgraded by Credit Agricole to “Outperform”. The rating was downgraded by UBS on Wednesday, July 20 to “Neutral”. The firm has “Underperform” rating by Telsey Advisory Group given on Friday, September 25. As per Friday, July 29, the company rating was downgraded 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 0.88 in Q2 2016. Its down 0.13, from 1.01 in 2016Q1. The ratio dived, 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.
Weybosset Research Management Limited Liability owns 2,661 shares or 0.18% of their US portfolio. Tcw Gru has invested 0.02% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Ladenburg Thalmann Fincl Ser owns 8,591 shares or 0.01% of their US portfolio. Teachers holds 0.01% or 81,964 shares in its portfolio. Moreover, Wcm Mngmt Ca has 0% invested in Wynn Resorts, Limited (NASDAQ:WYNN) for 3,000 shares. Manufacturers Life Insur Company The owns 73,467 shares or 0.01% of their US portfolio. Nokota Mngmt Lp has 180,000 shares for 0.61% of their US portfolio. Mackenzie Finance Corporation holds 0.01% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN) for 16,915 shares. Blackrock Advsrs Limited Company accumulated 0.01% or 73,113 shares. Capstone Asset Mngmt Com, a Texas-based fund reported 2,444 shares. Aviva Public Ltd holds 0.03% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN) for 49,781 shares. Cap Global last reported 861,000 shares in the company. M&T Natl Bank has invested 0.02% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Keybank National Association Oh accumulated 4,933 shares or 0% of the stock. Louisiana State Employees Retirement System last reported 5,300 shares in the company.

Insider Transactions: Since November 9, 2016, the stock had 0 insider buys, and 1 sale for $3.27 million net activity. Shares for $3.27 million were sold by WAYSON DANIEL BOONE.

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 $10.28 billion. The Firm operates through two divisions: Macau Operations and Las Vegas Operations. It has a 42.29 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 recent Wynn Resorts, Limited (NASDAQ:WYNN) news were published by: Fool.com which released: “Better Buy: Wynn Resorts Ltd. vs. Las Vegas Sands” on December 01, 2016. Also Businesswire.com published the news titled: “Wynn Resorts, Limited Reports Third Quarter 2016 Results” on November 02, 2016. Schaeffersresearch.com‘s news article titled: “Option Bulls React as Wynn Resorts, Limited (WYNN) Fills Post-Earnings Bear Gap” with publication date: November 21, 2016 was also an interesting one.

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