Hedge Funds Are Dumping Wynn Resorts, Limited (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) was in 33 hedge funds’ portfolio at the end of the fourth quarter of 2012. WYNN shareholders have witnessed a decrease in hedge fund interest lately. There were 33 hedge funds in our database with WYNN holdings at the end of the previous quarter.

Wynn Resorts, Limited (NASDAQ:WYNN)

At the moment, there are a multitude of methods shareholders can use to monitor Mr. Market. Two of the most underrated are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top money managers can outpace the market by a superb margin (see just how much).

Equally as integral, positive insider trading activity is another way to break down the investments you’re interested in. There are a variety of reasons for an insider to get rid of shares of his or her company, but only one, very simple reason why they would initiate a purchase. Many academic studies have demonstrated the valuable potential of this method if shareholders understand where to look (learn more here).

With these “truths” under our belt, let’s take a look at the latest action encompassing Wynn Resorts, Limited (NASDAQ:WYNN).

What does the smart money think about Wynn Resorts, Limited (NASDAQ:WYNN)?

In preparation for this year, a total of 33 of the hedge funds we track were long in this stock, a change of 0% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their stakes significantly.

According to our comprehensive database, Criterion Capital, managed by Christopher Lord, holds the most valuable position in Wynn Resorts, Limited (NASDAQ:WYNN). Criterion Capital has a $84 million billion position in the stock, comprising 4.5% of its 13F portfolio. Coming in second is Panayotis æTakisÆ Sparaggis of Alkeon Capital Management, with a $35 million position; 1% of its 13F portfolio is allocated to the company. Some other hedgies with similar optimism include Ken Griffin’s Citadel Investment Group, Murray Stahl’s Horizon Asset Management and Steven Cohen’s SAC Capital Advisors.

Judging by the fact that Wynn Resorts, Limited (NASDAQ:WYNN) has witnessed a declination in interest from the aggregate hedge fund industry, we can see that there was a specific group of hedge funds that decided to sell off their entire stakes in Q4. Intriguingly, John Burbank’s Passport Capital dumped the biggest investment of the “upper crust” of funds we track, valued at an estimated $55 million in stock.. Dmitry Balyasny’s fund, Balyasny Asset Management, also said goodbye to its call options., about $40 million worth. These moves are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Insider trading activity in Wynn Resorts, Limited (NASDAQ:WYNN)

Insider trading activity, especially when it’s bullish, is at its handiest when the company in question has seen transactions within the past six months. Over the last 180-day time period, Wynn Resorts, Limited (NASDAQ:WYNN) has experienced zero unique insiders buying, and 2 insider sales (see the details of insider trades here).

With the results demonstrated by our studies, everyday investors should always watch hedge fund and insider trading sentiment, and Wynn Resorts, Limited (NASDAQ:WYNN) shareholders fit into this picture quite nicely.

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Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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