Melvin Capital Management LP Cut Wynn Resorts LTD (WYNN) Stake by $128.47 Million

Wynn Resorts, Limited (NASDAQ:WYNN) LogoInvestors sentiment increased to 1.48 in 2018 Q2. Its up 0.58, from 0.9 in 2018Q1. It is positive, as 52 investors sold WYNN shares while 117 reduced holdings. 65 funds opened positions while 185 raised stakes. 79.61 million shares or 1.49% less from 80.81 million shares in 2018Q1 were reported. Whittier Of Nevada has 830 shares. 1.53M are owned by Third Point Lc. Lombard Odier Asset (Usa) owns 0.39% invested in Wynn Resorts, Limited (NASDAQ:WYNN) for 36,019 shares. Robeco Institutional Asset Bv holds 28,611 shares. State Of Alaska Department Of Revenue owns 22,212 shares for 0.07% of their portfolio. Quantres Asset Mgmt Ltd invested 1.17% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). Tiger Mngmt Llc stated it has 0.27% of its portfolio in Wynn Resorts, Limited (NASDAQ:WYNN). 39,732 are owned by Retirement Of Alabama. First Personal holds 1,182 shares. Contravisory Investment Mngmt owns 2,410 shares. Gateway Investment Advisers Ltd Limited Liability Company, Ohio-based fund reported 13,039 shares. Bridgecreek Investment Mgmt Ltd Limited Liability Company has 63,240 shares. Wealthtrust reported 107 shares stake. Arizona State Retirement Systems has 0.08% invested in Wynn Resorts, Limited (NASDAQ:WYNN) for 50,300 shares. Massachusetts-based Rampart Mngmt Communication Ltd Liability Co has invested 0.38% in Wynn Resorts, Limited (NASDAQ:WYNN).

Since November 13, 2018, it had 1 buy, and 0 sales for $1.01 million activity.

Melvin Capital Management Lp decreased its stake in Wynn Resorts Ltd (WYNN) by 58.31% based on its latest 2018Q2 regulatory filing with the SEC. Melvin Capital Management Lp sold 769,300 shares as the company’s stock declined 23.51% while stock markets rallied. The institutional investor held 550,000 shares of the consumer services company at the end of 2018Q2, valued at $92.04M, down from 1.32 million at the end of the previous reported quarter. Melvin Capital Management Lp who had been investing in Wynn Resorts Ltd for a number of months, seems to be less bullish one the $11.42 billion market cap company. The stock decreased 6.60% or $7.42 during the last trading session, reaching $104.99. About 3.35M shares traded or 7.94% up from the average. Wynn Resorts, Limited (NASDAQ:WYNN) has declined 7.52% since December 8, 2017 and is downtrending. It has underperformed by 23.14% the S&P500.

Melvin Capital Management Lp, which manages about $11.06 billion US Long portfolio, upped its stake in Restaurant Brands Intl Inc by 1.10M shares to 1.30 million shares, valued at $78.39M in 2018Q2, according to the filing. It also increased its holding in Yandex N V (Call) (NASDAQ:YNDX) by 1.72M shares in the quarter, for a total of 3.02M shares, and has risen its stake in Electronic Arts Inc (NASDAQ:EA).

Analysts await Wynn Resorts, Limited (NASDAQ:WYNN) to report earnings on January, 28. They expect $1.15 earnings per share, down 17.86 % or $0.25 from last year’s $1.4 per share. WYNN’s profit will be $125.06 million for 22.82 P/E if the $1.15 EPS becomes a reality. After $1.68 actual earnings per share reported by Wynn Resorts, Limited for the previous quarter, Wall Street now forecasts -31.55 % negative EPS growth.

More notable recent Wynn Resorts, Limited (NASDAQ:WYNN) news were published by: Nasdaq.com which released: “Wynn Resorts Enters Oversold Territory – Nasdaq” on October 05, 2018, also Benzinga.com with their article: “Insider Buys Of The Week: Hain Celestial (NASDAQ:HAIN), Newell Brands (NYSE:NWL), Wynn Resorts (NASDAQ:WYNN) – Benzinga” published on November 18, 2018, Nasdaq.com published: “Dow Jumps 354 Points as Stocks, Oil Bounce Back – Nasdaq” on November 26, 2018. More interesting news about Wynn Resorts, Limited (NASDAQ:WYNN) were released by: Gurufocus.com and their article: “Steve Mandel Starts 3 New Positions in 3rd Quarter – GuruFocus.com” published on November 29, 2018 as well as 247Wallst.com‘s news article titled: “Monday’s Biggest Winners and Losers in the S&P 500 – 24/7 Wall St.” with publication date: December 03, 2018.

Wynn Resorts, Limited (NASDAQ:WYNN) Ratings Coverage

Among 9 analysts covering Wynn Resorts (NASDAQ:WYNN), 4 have Buy rating, 0 Sell and 5 Hold. Therefore 44% are positive. Wynn Resorts had 15 analyst reports since June 26, 2018 according to SRatingsIntel. Susquehanna maintained Wynn Resorts, Limited (NASDAQ:WYNN) on Thursday, August 2 with “Positive” rating. On Friday, June 29 the stock rating was maintained by Jefferies with “Buy”. The company was maintained on Thursday, August 2 by Stifel Nicolaus. The rating was maintained by Jefferies with “Hold” on Thursday, November 8. Stifel Nicolaus upgraded the shares of WYNN in report on Tuesday, July 10 to “Buy” rating. The rating was maintained by Morgan Stanley with “Equal-Weight” on Thursday, November 8. Jefferies downgraded the stock to “Hold” rating in Tuesday, August 14 report. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned “Overweight” rating by Barclays Capital on Thursday, August 2. The firm has “Hold” rating given on Tuesday, August 7 by Argus Research. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) earned “Neutral” rating by Bank of America on Thursday, August 2.

Wynn Resorts, Limited (NASDAQ:WYNN) Institutional Positions Chart

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