Moore Capital offered Wynn Accommodations, different casino stocks sooner than Steve Wynn resigned

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  • Moore Capital took a brand unusual, 50,000 share stake in Wynn Accommodations, a 1.88 million share stake in Caesars Entertainment and a one hundred,000 share stake in Boyd Gaming, per a required quarterly filing Wednesday with the U.S. Securities and Alternate Commission.
  • Wynn shares are down 2.6 p.c this yr after Steve Wynn final week resigned as CEO and chairman of the firm.
  • The hedge fund also took a brand unusual stake in Abercrombie & Fitch of 375,000 shares.

Caesar's Palace in Atlantic City.

Vivek9632 | Flickr
Caesar's Palace in Atlantic City.

Louis author 1st baron verulam’s Moore Capital bet on casino stocks in the fourth quarter of final yr, filings point out.

Wynn Accommodations, a 1.88 million share stake in Caesars Entertainment and a one hundred,000 share stake in Boyd Gaming, per a required quarterly filing Wednesday with the U.S. Securities and Alternate Commission.

The knowledge is at the very least Forty five days historical and could per chance also now not deem the fund’s current holdings.

Wynn shares are down 2.6 p.c this yr after Steve Wynn final week resigned as CEO and chairman of the firm. In dull January, The Wall Aspect road Journal reported detailed allegations of decades of sexual misconduct by the casino magnate. In an announcement about his resignation, the used CEO did now not admit to any wrongdoing.

Shares of Caesars are up about 1.2 p.c this yr, whereas Boyd Gaming is up three.8 p.c.

Moore Capital also took a brand unusual stake in Abercrombie & Fitch of 375,000 shares. The retailer, which struggled final yr, raised fourth-quarter guidance in dull January to the excessive single digits. Shares are up 26.2 p.c to this point this yr.

Many quite loads of unusual holdings fell in the category leisure and retail, akin to Marriott, McDonald’s Ralph Lauren, Ross Stores, Starbucks, Burlington Stores and Deckers Out of doors.

The hedge fund also bet on expertise stocks over banks. Moore Capital increased its holdings in Apple and Microsoft, nevertheless lowered its ownership of Alibaba and Amazon.com. The fund dissolved its stake in J.P. Morgan Streak and reduced its holdings of Bank of The US, Citigroup and Morgan Stanley.

— CNBC’s Everett Rosenfeld contributed to this document.

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