Wynn Resorts, Sherwin-Williams, The Valspar Corp, and More: Here’s Why These Five Stocks Are in the Spotlight

Volatility has increased as all three indexes have trended lower. As of late morning trading, the Dow Jones is down by almost 140 points, while the S&P and NASDAQ are both off by more than 0.7%.

Among the stocks commanding attention include Wynn Resorts, Limited (NASDAQ:WYNN), JinkoSolar Holding Co., Ltd. (NYSE:JKS), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), Sherwin-Williams Co (NYSE:SHW), and The Valspar Corp (NYSE:VAL). Let’s examine why traders are focused on each stock and analyze hedge fund sentiment towards them.

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Wynn Resorts, Limited (NASDAQ:WYNN) is in the spotlight after David Bain of Aegis upgraded the stock to ‘Buy’ from ‘Hold’ and upped his target price to $121 from the previous $95. Bain thinks the probability of upward revisions by the Street for Wynn’s Macau segment has increased. The analyst also likes how Wynn has exposure to the VIP and high-end of the market. Of the 742 elite funds we track, 33 funds owned $1.78 billion of Wynn Resorts, Limited (NASDAQ:WYNN) and accounted for 20.20% of the float on December 31, versus 38 funds and $2.25 billion respectively on September 30.

JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) and JinkoSolar Holding Co., Ltd. (NYSE:JKS) are each in the red as the broader market and Canadian Solar Inc. (NASDAQ:CSIQ)’s earnings results weigh on both stocks. For its fourth quarter, Canadian Solar missed both earnings and revenue estimates and the company guided for lower first quarter sales as well. As a result, Canadian Solar is down by almost 10% while JinkoSolar is off by 4% and JA Solar has inched lower by 0.6%. Given that solar is a notoriously volatile sector, JinkoSolar and JA Solar could also show substantial movements over the coming weeks ahead in either direction. 7 and 5 funds that Insider Monkey tracks were long JinkoSolar Holding Co., Ltd. (NYSE:JKS) and JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) at the end of Q4.

On the next page, we take a closer look at Sherwin-Williams Co, and The Valspar Corp.Traders are watching The Valspar Corp (NYSE:VAL) and Sherwin-Williams Co (NYSE:SHW) after the two extended the termination date of their prospective merger to June 21 from March 21. Sherwin-Williams previously agreed to buy Valspar for $113 in cash but needs more time, hence the extension. Given the price action of both stocks, the market is heavily implying that it still expects the merger between the two to go through. 47 and 37 elite funds reported long positions in Sherwin-Williams Co (NYSE:SHW) and The Valspar Corp (NYSE:VAL) according to the most recent 13F filing data.

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