Melvin Capital Management LP Position in Wynn Resorts LTD (WYNN) Decreased as Market Valuation Declined

Wynn Resorts, Limited (NASDAQ:WYNN) LogoInvestors sentiment increased to 1.48 in 2018 Q2. Its up 0.58, from 0.9 in 2018Q1. It improved, 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. First Republic Inv Incorporated reported 23,856 shares. Winslow Management Ltd invested in 969,895 shares. Quantres Asset Management accumulated 12,100 shares. Banque Pictet & Cie Sa owns 43,961 shares. Quantbot Tech LP invested in 15,525 shares or 0.18% of the stock. Massachusetts-based Fmr Ltd Liability Co has invested 0.01% in Wynn Resorts, Limited (NASDAQ:WYNN). Rafferty Asset Mngmt Lc owns 0.02% invested in Wynn Resorts, Limited (NASDAQ:WYNN) for 9,833 shares. Hsbc Holdg Public Ltd invested in 88,338 shares or 0.03% of the stock. 3 are held by Valley Natl Advisers. Walleye Trading Limited Liability reported 45,982 shares. Kentucky Retirement has invested 0.06% in Wynn Resorts, Limited (NASDAQ:WYNN). 9.42M were accumulated by Vanguard Grp Incorporated. United Kingdom-based Gsa Capital Partners Ltd Liability Partnership has invested 0.02% in Wynn Resorts, Limited (NASDAQ:WYNN). Hartford Invest Mgmt has invested 0.06% in Wynn Resorts, Limited (NASDAQ:WYNN). Csat Invest Advisory Limited Partnership reported 61 shares or 0.01% of all its holdings.

Since November 13, 2018, it had 1 insider buy, and 0 selling transactions 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 $11.42B market cap company. The stock decreased 6.60% or $7.42 during the last trading session, reaching $104.99. About 3.35 million 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 First Data Corp New (Call) by 2.10 million shares to 3.60 million shares, valued at $75.28 million in 2018Q2, according to the filing. It also increased its holding in Servicenow Inc (NYSE:NOW) by 50,000 shares in the quarter, for a total of 250,000 shares, and has risen its stake in Masco Corp (NYSE:MAS).

Analysts await Wynn Resorts, Limited (NASDAQ:WYNN) to report earnings on January, 28. They expect $1.15 EPS, down 17.86 % or $0.25 from last year’s $1.4 per share. WYNN’s profit will be $125.06M for 22.82 P/E if the $1.15 EPS becomes a reality. After $1.68 actual EPS 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: Benzinga.com which released: “Insider Buys Of The Week: Hain Celestial (NASDAQ:HAIN), Newell Brands (NYSE:NWL), Wynn Resorts (NASDAQ:WYNN) – Benzinga” on November 18, 2018, also 247Wallst.com with their article: “Monday’s Biggest Winners and Losers in the S&P 500 – 24/7 Wall St.” published on December 03, 2018, Benzinga.com published: “28 Stocks Moving In Monday’s Pre-Market Session – Benzinga” on December 03, 2018. More interesting news about Wynn Resorts, Limited (NASDAQ:WYNN) were released by: Bizjournals.com and their article: “Encore casino pledges $10M to local nonprofits, partners with Jack Connors – Boston Business Journal” published on November 27, 2018 as well as Benzinga.com‘s news article titled: “Wynn (NASDAQ:WYNN) Shares Are Folding After A Mixed Q3 Print – Benzinga” with publication date: November 08, 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. The firm earned “Equal-Weight” rating on Thursday, August 2 by Morgan Stanley. The rating was maintained by Susquehanna on Thursday, August 2 with “Positive”. The company was maintained on Monday, July 9 by Nomura. The firm has “Overweight” rating by Barclays Capital given on Thursday, August 2. On Friday, June 29 the stock rating was maintained by Jefferies with “Buy”. Credit Suisse maintained Wynn Resorts, Limited (NASDAQ:WYNN) on Thursday, November 8 with “Neutral” rating. The stock of Wynn Resorts, Limited (NASDAQ:WYNN) has “Hold” rating given on Tuesday, August 7 by Argus Research. The firm has “Hold” rating given on Thursday, November 8 by Jefferies. Stifel Nicolaus maintained it with “Buy” rating and $192 target in Thursday, August 2 report. The rating was maintained by Morgan Stanley on Thursday, November 8 with “Equal-Weight”.

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

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