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The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Wynn Resorts, Limited (NASDAQ:WYNN).
One of the 10 Most Profitable Hotels in The World, Wynn Resorts, Limited (NASDAQ:WYNN) was owned by 43 hedge funds at the end of the third quarter, a slight decline from a quarter earlier. Wynn was not close to making the list of 30 Most Popular Stocks Among Hedge Funds, but has proven to be a lot more popular among billionaire money managers in particular, ranking in the top 10 of the 20 Dividend Stocks That Billionaires Are Piling On. Wynn has made a big bet on its dividend this year, raising it by 50%.
In the eyes of most stock holders, hedge funds are seen as slow, old investment vehicles of years past. While there are greater than 8,000 funds with their doors open at present, our researchers choose to focus on the elite of this group, about 700 funds. These hedge fund managers have their hands on most of the hedge fund industry's total asset base, and by tracking their best picks, Insider Monkey has discovered many investment strategies that have historically exceeded Mr. Market. Insider Monkey's flagship hedge fund strategy defeated the S&P 500 index by 6 percentage points a year since its inception in May 2014 through early November 2018. We were able to generate large returns even by identifying short candidates. Our portfolio of short stocks lost 26.1% since February 2017 even though the market was up nearly 19% during the same period. We just shared a list of 11 short targets in our latest quarterly update.
What have hedge funds been doing with Wynn Resorts, Limited (NASDAQ:WYNN)?
At Q3's end, a total of 43 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 2% dip from the second quarter of 2018. The graph below displays the number of hedge funds with bullish position in WYNN over the last 13 quarters. With hedgies' sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).