Nwi Management Lp Lowers stake in Wynn Resorts Limited (WYNN)

Wynn Resorts Limited (WYNN) : Nwi Management Lp reduced its stake in Wynn Resorts Limited by 30.0% during the most recent quarter end. The investment management company now holds a total of 70,000 shares of Wynn Resorts Limited which is valued at $6.3 Million after selling 30,000 shares in Wynn Resorts Limited , the firm said in a disclosure report filed with the SEC on May 12, 2016.Wynn Resorts Limited makes up approximately 0.53% of Nwi Management Lp’s portfolio.

Other Hedge Funds, Including , Arrow Investment Advisors added WYNN to its portfolio by purchasing 16,906 company shares during the most recent quarter which is valued at $1.5 Million. Wynn Resorts Limited makes up approx 0.33% of Arrow Investment Advisors’s portfolio.Blackrock Advisors reduced its stake in WYNN by selling 2,607 shares or 3.63% in the most recent quarter. The Hedge Fund company now holds 69,129 shares of WYNN which is valued at $6.2 Million. Wynn Resorts Limited makes up approx 0.01% of Blackrock Advisors’s portfolio.Ls Investment Advisors reduced its stake in WYNN by selling 347 shares or 8.75% in the most recent quarter. The Hedge Fund company now holds 3,620 shares of WYNN which is valued at $325,619. Wynn Resorts Limited makes up approx 0.02% of Ls Investment Advisors’s portfolio.

Wynn Resorts Limited opened for trading at $88.93 and hit $90.257 on the upside on Friday, eventually ending the session at $88.96, with a gain of 0.58% or 0.51 points. The heightened volatility saw the trading volume jump to 17,46,942 shares. Company has a market cap of $9,055 M.

On the company’s financial health, Wynn Resorts Limited reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.25 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.82. The company had revenue of $1080.76 million for the quarter, compared to analysts expectations of $1002.05 million. The company’s revenue was down -8.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

Many Wall Street Analysts have commented on Wynn Resorts Limited. Wynn Resorts Limited was Downgraded by Credit Agricole to ” Outperform” on Apr 29, 2016. Company shares were Downgraded by Deutsche Bank on Apr 13, 2016 to ” Hold”, Firm has raised the Price Target to $ 101 from a previous price target of $94 .Company shares were Reiterated by Gabelli & Co on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 103 from a previous price target of $96 .

Wynn Resorts Limited is a developer owner and operator of destination casino resorts which integrate accommodations and amenities including fine dining premium retail offerings distinctive entertainment and convention facilities. The Company owns 72% of Wynn Macau Limited which operates an integrated resort in the Macau Special Administrative Region of the People’s Republic of China (Macau). Wynn Resorts also owns 100% of and operates an integrated resort in Las Vegas Nevada. The company operates through two segments: Macau Operations which includes Wynn Macau and Encore at Wynn Maca and Las Vegas Operations which includes Wynn Las Vegas and Encore at Wynn Las Vegas. Its Macau Operations features approximately 284000 square feet of casino space with 498 table games and 625 slot machines two hotel towers and others. Its Las Vegas Operations features approximately 186000 square feet of casino space with 232 table games 1849 slot machines two hotel towers and others.

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