Northern Cross LLC Has $1.11 Billion Stake in Wynn Resorts, Limited (WYNN)

Northern Cross LLC decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,279,644 shares of the casino operator’s stock after selling 867,117 shares during the quarter. Wynn Resorts, Limited accounts for approximately 14.3% of Northern Cross LLC’s holdings, making the stock its 3rd biggest holding. Northern Cross LLC owned 8.12% of Wynn Resorts, Limited worth $1,110,466,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Wynn Resorts, Limited by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,264,810 shares of the casino operator’s stock worth $1,108,476,000 after purchasing an additional 246,476 shares in the last quarter. BlackRock Inc. increased its position in shares of Wynn Resorts, Limited by 5,076.4% during the 1st quarter. BlackRock Inc. now owns 4,945,920 shares of the casino operator’s stock worth $566,852,000 after purchasing an additional 4,850,373 shares in the last quarter. State Street Corp increased its position in shares of Wynn Resorts, Limited by 0.8% during the 1st quarter. State Street Corp now owns 3,308,320 shares of the casino operator’s stock worth $379,153,000 after purchasing an additional 26,867 shares in the last quarter. Platinum Investment Management Ltd. increased its position in shares of Wynn Resorts, Limited by 0.7% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,724,330 shares of the casino operator’s stock worth $197,625,000 after purchasing an additional 11,600 shares in the last quarter. Finally, Maverick Capital Ltd. increased its position in shares of Wynn Resorts, Limited by 36.9% during the 2nd quarter. Maverick Capital Ltd. now owns 1,260,248 shares of the casino operator’s stock worth $169,024,000 after purchasing an additional 339,550 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

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Shares of Wynn Resorts, Limited (WYNN) traded up 0.90% on Friday, hitting $142.03. 573,347 shares of the stock traded hands. The stock has a market cap of $14.48 billion, a PE ratio of 53.15 and a beta of 1.67. The stock has a 50 day moving average of $143.15 and a 200-day moving average of $131.39. Wynn Resorts, Limited has a 1-year low of $82.51 and a 1-year high of $150.40.

Wynn Resorts, Limited (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, July 25th. The casino operator reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a return on equity of 165.77% and a net margin of 5.02%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The firm’s revenue was up 44.5% compared to the same quarter last year. On average, equities research analysts expect that Wynn Resorts, Limited will post $5.07 EPS for the current year.

In other news, Director Clark T. Jr. Randt sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $129.00, for a total value of $387,000.00. Following the completion of the transaction, the director now owns 7,711 shares of the company’s stock, valued at $994,719. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Matt Maddox sold 42,900 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $143.44, for a total value of $6,153,576.00. Following the completion of the transaction, the president now directly owns 350,586 shares of the company’s stock, valued at approximately $50,288,055.84. The disclosure for this sale can be found here. Insiders sold 67,351 shares of company stock valued at $9,621,369 in the last ninety days. 13.20% of the stock is currently owned by insiders.

A number of brokerages recently issued reports on WYNN. Stifel Nicolaus reiterated a “hold” rating and set a $134.00 target price on shares of Wynn Resorts, Limited in a research report on Thursday. Morgan Stanley increased their target price on shares of Wynn Resorts, Limited from $151.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday. UBS AG reiterated a “buy” rating and set a $174.00 target price (up previously from $149.00) on shares of Wynn Resorts, Limited in a research report on Friday, September 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $157.00 target price (up previously from $150.00) on shares of Wynn Resorts, Limited in a research report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $134.69.

Wynn Resorts, Limited Profile

Wynn Resorts, Limited (Wynn Resorts) 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’s segments include Macau Operations and Las Vegas Operations.

Institutional Ownership by Quarter for Wynn Resorts, Limited (NASDAQ:WYNN)

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