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Lone Pine Capital Raised its Stake in Wyndham Worldwide Corporation (WYN)

Steve Mandel’s Lone Pine Capital revealed in a new filing with the Securities and Exchange Commission, that it has upped its holding in Wyndham Worldwide Corporation (NYSE:WYN) to 6.77 million shares from 5.71 million shares held earlier. The current holding represents 5.2% of  the common stock of Wyndham Worldwide.

Wyndham Worldwide Corporation (NYSE:WYN)


Wyndham Hotel Group, a division of the Wyndham Worldwide (NYSE:WYN) family of companies, is the largest hotel company in the world with approximately 7,440 hotels across 68 countries. Recently, Wyndham Worldwide Corporation (NYSE:WYN) celebrated its achievement of crossing the 100 mark of the number of hotels in Germany, after opening eight new hotels, which brings the number to a total of 103 hotels in Germany.

On average, the analysts gave the stock the“Overweight” rating, with the target price being set at $78.8. With current trade price of $73.60, the stock has further room for growth to the target.

Among other investors, Iridian Asset Management, led by David Cohen and Harold Levy, holds 5.77 million shares of Wyndham Worldwide Corporation (NYSE:WYN), worth $351.96 million. Christopher Medlock James’ Partner Fund Management, also has a long position which amasses some 2.89 million shares, with a value of $176.04 million. Blue Ridge Capital, managed by John Griffin, held almost 2.83 million shares at the end of September, with a value of $172.55 million.

Steve Mandel is a “bottom-up” investor and has great stock picking abilities. The fund has earlier, increased its position in The Gap Inc. (NYSE:GPS) to around 25.1 million shares, from 19.2 million shares. It also purchased the shares of Pandora Media Inc (NYSE:P), and holds a stake of 5.3% in the company. The fund has invested 4.45% of its equity portfolio in Dollar General Corp. (NYSE:DG) and currently owns in aggregate around 17.68 million shares.

Disclosure: none

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