Pacad Investment Ltd. adds Wynn Resorts Limited (WYNN) to its portfolio

Wynn Resorts Limited (WYNN) : Pacad Investment Ltd. added new position in Wynn Resorts Limited during the most recent quarter end. The investment management firm now holds 50,293 shares of Wynn Resorts Limited which is valued at $4,250,261 , the company said in a statement filed on Nov 14, 2016 with the SEC.Wynn Resorts Limited makes up approximately 0.55% of Pacad Investment Ltd.’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers reduced its stake in WYNN by selling 70,882 shares or 41.67% in the most recent quarter. The Hedge Fund company now holds 99,205 shares of WYNN which is valued at $8,383,815. Wynn Resorts Limited makes up approx 0.31% of Parallax Volatility Advisers’s portfolio.Banque Pictet Cie Sa reduced its stake in WYNN by selling 3,380 shares or 10.12% in the most recent quarter. The Hedge Fund company now holds 30,035 shares of WYNN which is valued at $2,638,875. Wynn Resorts Limited makes up approx 0.07% of Banque Pictet Cie Sa’s portfolio.Plante Moran Financial Advisors boosted its stake in WYNN in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 44 shares of Wynn Resorts Limited which is valued at $3,851.Northwest Investment Counselors reduced its stake in WYNN by selling 100 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 7,525 shares of WYNN which is valued at $702,609. Wynn Resorts Limited makes up approx 0.37% of Northwest Investment Counselors’s portfolio.

Wynn Resorts Limited opened for trading at $91.23 and hit $94 on the upside on Monday, eventually ending the session at $92.35, with a gain of 2.11% or 1.91 points. The heightened volatility saw the trading volume jump to 32,24,745 shares. Company has a market cap of $9,396 M.

On the company’s financial health, Wynn Resorts Limited reported $0.75 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Nov 2, 2016. Analyst had a consensus of $0.84. The company had revenue of $1109.80 million for the quarter, compared to analysts expectations of $1124.24 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on Wynn Resorts Limited. Shares were Reiterated by Telsey Advisory Group on Nov 3, 2016 to “Outperform” and Lowered the Price Target to $ 105 from a previous price target of $115 .Shares were Reiterated by Stifel on Nov 3, 2016 to “Hold” and Lowered the Price Target to $ 103 from a previous price target of $106 .

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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