Third Point, the activist fund run by Dan Loeb, exited a series of high-profile positions during the first quarter, including stakes in Honeywell International Inc., Time Warner Inc., MGM Resorts International and U.S. mall owner Macerich Co.
The New York-based hedge fund also added a position in Wynn Resorts Ltd., according to a regulatory filing Tuesday. The Las Vegas-based casino company’s co-founder and chief executive officer, Steve Wynn, resigned in February amid allegations of sexual harassment. Wynn Resorts made a surprise announcement Monday that two directors were resigning, including one who co-founder Elaine Wynn urged shareholders to vote against.
Land & Buildings Investment Management, the activist fund run by Jonathan Litt, also disclosed a stake in Wynn Resorts Tuesday.
Third Point’s exit of Macerich comes after that company announced last month that Chief Executive Officer Arthur Coppola would retire at the end of the year.
Top Casino Stocks To Watch Right Now: Ambarella, Inc.(AMBA)
Advisors' Opinion:- [By Steve Symington]
Ambarella Inc. (NASDAQ:AMBA) announced solid fiscal second-quarter 2019 results on Thursday after the market closed, detailing a performance largely in line with the low bar it set in June. But the video-processing chip leader also followed with surprisingly low forward revenue guidance, leaving shares down big in after-hours trading as of this writing.
- [By Chris Lange]
Ambarella Inc. (NASDAQ: AMBA) also is scheduled to release its most recent quarterly results Thursday. The consensus forecast calls for $0.37 in EPS and $70.3 million in revenue. Shares closed at $48.89. The consensus price target is $57.50, and the 52-week range is $40.06 to $66.23.
- [By Harsh Chauhan]
Investors' enthusiasm for Ambarella (NASDAQ:AMBA) came crashing down after the video-processing-chip specialist's fiscal first-quarter performance didn't do much to dispel fears that it was finding it difficult to grow despite operating in verticals that promise a lot of opportunities.
Top Casino Stocks To Watch Right Now: First Trust Water ETF (FIW)
Advisors' Opinion:- [By Logan Wallace]
Raymond James & Associates increased its position in First Trust Water ETF (NYSEARCA:FIW) by 45.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 61,717 shares of the company’s stock after buying an additional 19,152 shares during the period. Raymond James & Associates’ holdings in First Trust Water ETF were worth $2,969,000 at the end of the most recent quarter.
- [By Logan Wallace]
Wells Fargo & Company MN decreased its stake in shares of First Trust Water ETF (NYSEARCA:FIW) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,540 shares of the company’s stock after selling 36,231 shares during the quarter. Wells Fargo & Company MN’s holdings in First Trust Water ETF were worth $13,256,000 as of its most recent SEC filing.
- [By Shane Hupp]
First Trust ISE Water Index Fund (NYSEARCA:FIW) declared a quarterly dividend on Thursday, June 21st, Wall Street Journal reports. Shareholders of record on Friday, June 22nd will be paid a dividend of 0.0861 per share on Friday, June 29th. This represents a $0.34 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, June 21st. This is a positive change from First Trust ISE Water Index Fund’s previous quarterly dividend of $0.06.
Top Casino Stocks To Watch Right Now: Square, Inc.(SQ)
Advisors' Opinion:- [By Motley Fool Staff]
Fintech specialist Square (NYSE:SQ) has received a less-than-warm reception from many analysts regarding its recently announced Square Installments consumer lending initiative. Separately, it was revealed that CEO Jack Dorsey had sold more than 103,000 shares of the stock.
- [By Chris Lange]
Square Inc. (NYSE: SQ) will report its most recent quarterly results on Tuesday. The consensus estimates call for $0.07 in EPS and $266.26 million in revenue. Shares were last seen trading at $44.86, in a 52-week range of $16.11 to $49.56. The consensus price target is $42.97.
- [By Neha Chamaria, Jason Hall, and Dan Caplinger]
So we asked three Motley Fool contributors to identify a stock they believe could be potential multibaggers that could put even Shopify's returns to shame. Here's why they chose NV5 Global Inc. (NASDAQ:NVEE), Raven Industries (NASDAQ:RAVN), and Square Inc. (NYSE:SQ).
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