Notable SEC Filing: Northern Cross LLC Has Lowered Its Wynn Resorts LTD (WYNN) Position by $227.20 Million as Share Value Rose

Notable SEC Filing: Northern Cross LLC Has Lowered Its Wynn Resorts LTD (WYNN) Position by $227.20 Million as Share Value Rose

Northern Cross Llc decreased its stake in Wynn Resorts Ltd (WYNN) by 17.53% based on its latest 2016Q3 regulatory filing with the SEC. Northern Cross Llc sold 2.42M shares as the company’s stock rose 6.13% with the market. The institutional investor held 11.37 million shares of the consumer services company at the end of 2016Q3, valued at $1.08 billion, down from 13.79 million at the end of the previous reported quarter. Northern Cross Llc who had been investing in Wynn Resorts Ltd for a number of months, seems to be less bullish one the $9.68 billion market cap company. The stock increased 2.24% or $2.08 during the last trading session, hitting $94.83. Wynn Resorts, Limited (NASDAQ:WYNN) has declined 6.21% since June 7, 2016 and is downtrending. It has underperformed by 13.63% the S&P500.

Northern Cross Llc is a Massachusetts-based institutional investor with more than $51.96 billion AUM in January, 2015. This fund invests only a small percentage of its assets in equities and options. Northern Cross Llc is the 91th largest institutional investor in our database. Taken from Northern Cross latest Adv, the fund reported to have 9 full and part-time employees. Among which 6 performing investment advisory and research functions. The institutional investor had between 11-25 clients.

Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q3. Its down 0.13, from 1.01 in 2016Q2. The ratio is negative, as 40 funds sold all WYNN shares owned while 156 reduced positions. 53 funds bought stakes while 119 increased positions. They now own 73.77 million shares or 1.70% less from 75.05 million shares in 2016Q2. State Board Of Administration Of Florida Retirement System holds 0.04% or 121,581 shares in its portfolio. The Ohio-based Meeder Asset has invested 0.05% in Wynn Resorts, Limited (NASDAQ:WYNN). Retirement Of Alabama has 40,158 shares for 0.02% of their US portfolio. Crystal Rock Cap accumulated 54,210 shares or 3.56% of the stock. Whittier Company has 366 shares for 0% of their US portfolio. Service Automobile Association accumulated 0.02% or 48,696 shares. Toronto Dominion Natl Bank holds 0% or 2,337 shares in its portfolio. Aperio Grp Inc Ltd Liability Co, a California-based fund reported 39,019 shares. State Street last reported 2.29 million shares in the company. Alyeska Grp Inc Ltd Partnership accumulated 31,720 shares or 0.03% of the stock. Regions Corporation last reported 0.01% of its portfolio in the stock. Fmr Ltd Co accumulated 187,587 shares or 0% of the stock. Kornitzer Capital Ks holds 0.08% or 48,480 shares in its portfolio. Commerzbank Aktiengesellschaft Fi has 38,993 shares for 0.06% of their US portfolio. British Columbia Investment Mgmt Corp has invested 0.05% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN).

Insider Transactions: Since November 9, 2016, the stock had 1 buy, and 2 insider sales for $3.97 million net activity. $3.52M worth of Wynn Resorts, Limited (NASDAQ:WYNN) was bought by WAYSON DANIEL BOONE. The insider Sinatra Kimmarie sold $4.22M.

Analysts await Wynn Resorts, Limited (NASDAQ:WYNN) to report earnings on February, 9. They expect $0.65 earnings per share, down 36.89% or $0.38 from last year’s $1.03 per share. WYNN’s profit will be $66.35M for 36.47 P/E if the $0.65 EPS becomes a reality. After $0.75 actual earnings per share reported by Wynn Resorts, Limited for the previous quarter, Wall Street now forecasts -13.33% negative EPS growth.

More recent Wynn Resorts, Limited (NASDAQ:WYNN) news were published by: Fool.com which released: “3 Reasons Wynn Resorts, Limited Stock Could Rise” on December 17, 2016. Also Fool.com published the news titled: “3 Stocks With Better Dividends Than Wynn Resorts, Limited” on December 14, 2016. Fool.com‘s news article titled: “Will Wynn Resorts, Limited Raise Its Dividend in 2017?” with publication date: December 25, 2016 was also an interesting one.

According to Zacks Investment Research, “Wynn Resorts Limited and its wholly-owned subsidiaries Wynn Las Vegas and Wynn Capital will own and operate Le Reve, which they’ve designed to be the preeminent luxury hotel and destination casino resort in Las Vegas. Le Reve will be situated at the site of the former Desert Inn & Casino on the Las Vegas Strip in Las Vegas, Nevada.”

Wynn Resorts, Limited (NASDAQ:WYNN) Ratings Coverage

Out of 20 analysts covering Wynn Resorts (NASDAQ:WYNN), 7 rate it a “Buy”, 2 “Sell”, while 11 “Hold”. This means 35% are positive. Wynn Resorts has been the topic of 40 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned “Underperform” rating by Telsey Advisory Group on Friday, September 25. Vetr downgraded Wynn Resorts, Limited (NASDAQ:WYNN) on Thursday, September 17 to “Hold” rating. The rating was downgraded by Credit Agricole on Friday, April 29 to “Outperform”. The rating was maintained by Telsey Advisory Group with “Market Perform” on Thursday, November 19. The company was upgraded on Wednesday, September 2 by Credit Agricole. Nomura downgraded the stock to “Reduce” rating in Friday, July 29 report. The rating was downgraded by Sterne Agee CRT to “Neutral” on Friday, March 11. The rating was maintained by Deutsche Bank with “Hold” on Wednesday, October 12. Argus Research maintained the shares of WYNN in a report on Thursday, September 3 with “Hold” rating. The rating was downgraded by CLSA on Friday, April 29 to “Outperform”.

WYNN Company Profile

Wynn Resorts, Limited (Wynn Resorts), incorporated on June 3, 2002, 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 Firm operates through two divisions: Macau Operations and Las Vegas Operations. In Macau, it owns interest in Wynn Macau, Limited and operates Wynn Macau and Encore at Wynn Macau. In Las Vegas, Nevada, it owns and operates Wynn Las Vegas and Encore at Wynn Las Vegas. In addition, the Company is developing an integrated casino resort in Everett, Massachusetts.

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