Unusual Call Option Trade in Wynn Resorts Worth $54,158.5K

On May 22, 2023 at 11:13:23 ET an unusually large $54,158.50K block of Call contracts in Wynn Resorts (WYNN) was bought, with a strike price of $90.00 / share, expiring in 116 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 5.05 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in WYNN options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1046 funds or institutions reporting positions in Wynn Resorts. This is an increase of 79 owner(s) or 8.17% in the last quarter. Average portfolio weight of all funds dedicated to WYNN is 0.20%, an increase of 47.49%. Total shares owned by institutions decreased in the last three months by 7.43% to 87,320K shares. The put/call ratio of WYNN is 0.79, indicating a bullish outlook.

Analyst Price Forecast Suggests 16.33% Upside

As of May 11, 2023, the average one-year price target for Wynn Resorts is 128.28. The forecasts range from a low of 78.78 to a high of $157.50. The average price target represents an increase of 16.33% from its latest reported closing price of 110.28.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Wynn Resorts is 5,253MM, an increase of 24.27%. The projected annual non-GAAP EPS is -0.58.

What are Other Shareholders Doing?

AWSHX – WASHINGTON MUTUAL INVESTORS FUND holds 7,500K shares representing 6.64% ownership of the company. No change in the last quarter.

Price T Rowe Associates holds 5,986K shares representing 5.30% ownership of the company. In it’s prior filing, the firm reported owning 8,638K shares, representing a decrease of 44.31%. The firm decreased its portfolio allocation in WYNN by 12.50% over the last quarter.

Capital International Investors holds 5,622K shares representing 4.98% ownership of the company. In it’s prior filing, the firm reported owning 8,022K shares, representing a decrease of 42.70%. The firm decreased its portfolio allocation in WYNN by 8.89% over the last quarter.

PRGFX – T. Rowe Price Growth Stock Fund holds 3,505K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 4,197K shares, representing a decrease of 19.74%. The firm increased its portfolio allocation in WYNN by 15.12% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,922K shares representing 2.59% ownership of the company. In it’s prior filing, the firm reported owning 3,049K shares, representing a decrease of 4.34%. The firm increased its portfolio allocation in WYNN by 15.80% over the last quarter.

Wynn Resorts Declares $0.25 Dividend

On May 9, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of May 23, 2023 will receive the payment on June 6, 2023. Previously, the company paid $1.00 per share.

At the current share price of $110.28 / share, the stock’s dividend yield is 0.91%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.05%, the lowest has been 0.95%, and the highest has been 7.30%. The standard deviation of yields is 1.16 (n=96).

The current dividend yield is 1.84 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is -0.50. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

Wynn Resorts Background Information
(This description is provided by the company.)

Wynn Resorts, Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada, Macau, and China. The Company offers amenities such as guest rooms and suites, restaurants, golf course, and an on-site luxury automotive dealership.

Key filings for this company:

This article originally appeared on Fintel

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