Marcus Capital buys $3,027,887 stake in Wynn Resorts Limited (WYNN)

Wynn Resorts Limited (WYNN) : Marcus Capital scooped up 7,250 additional shares in Wynn Resorts Limited during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 32,150 shares of Wynn Resorts Limited which is valued at $3,027,887.Wynn Resorts Limited makes up approximately 3.04% of Marcus Capital’s portfolio.

Other Hedge Funds, Including , Charter Trust Co reduced its stake in WYNN by selling 5 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 3,179 shares of WYNN which is valued at $299,398. Wynn Resorts Limited makes up approx 0.03% of Charter Trust Co’s portfolio.Private Asset Management Inc reduced its stake in WYNN by selling 24,375 shares or 63.11% in the most recent quarter. The Hedge Fund company now holds 14,245 shares of WYNN which is valued at $1,278,489. Wynn Resorts Limited makes up approx 0.22% of Private Asset Management Inc’s portfolio. Washington Trust Bank sold out all of its stake in WYNN during the most recent quarter. The investment firm sold 2,000 shares of WYNN which is valued $179,500. Kistler-tiffany Companies added WYNN to its portfolio by purchasing 7 company shares during the most recent quarter which is valued at $628.

Wynn Resorts Limited closed down -0.99 points or -1.04% at $94.18 with 20,77,012 shares getting traded on Wednesday. Post opening the session at $94.29, the shares hit an intraday low of $93.19 and an intraday high of $94.955 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. UBS Downgraded Wynn Resorts Limited on Jul 20, 2016 to ” Neutral”, Price Target of the shares are set at $98.Shares were Downgraded by JP Morgan on Jul 14, 2016 to ” Neutral” and Lowered the Price Target to $ 94 from a previous price target of $101 .Shares were Reiterated by UBS on Jul 8, 2016 to “Buy” and Lowered the Price Target to $ 98 from a previous price target of $112 .

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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