Wynn Resorts, Limited’s Stock Price Soars to $106.56, Marking a Robust 4.24% Increase

Wynn Resorts, Limited (WYNN)

106.56 USD +4.33 (+4.24%) Volume: 2.95M

Wynn Resorts, Limited’s stock price stands at 106.56 USD, witnessing a positive surge of +4.24% this trading session, backed by a robust trading volume of 2.95M. The stock has displayed a promising performance with a year-to-date increase of +16.96%, making it a potential contender for investors’ portfolios.

Latest developments on Wynn Resorts, Limited

Wynn Resorts Ltd. has outperformed competitors in a strong trading day, with share prices continuing to climb. This upward trend has been fuelled by a surge in interest from institutional investors who now own 62% of the company. Significant investments have come from Synergy Asset Management LLC, purchasing 12,625 shares, and Assenagon Asset Management S.A., investing a whopping $10.23 million. Amid rising rates impacting small caps, Wynn Resorts remains in focus, with anticipation building for their annual car show this fall in Las Vegas.

Wynn Resorts, Limited on Smartkarma

Wynn Resorts, an international luxury resort and casino company, has recently received positive coverage from top independent analysts on Smartkarma, an independent investment research network. According to Baptista Research, the company’s financial performance has been on an upward trend, with the fourth quarter of 2023 marking an all-time quarterly record of $630.4 million of property EBITDAR. Annual earnings were also record-breaking, with nearly $2.2 billion generated over the year. Baptista Research also reported that Wynn Resorts delivered a solid result in the last quarter, with impressive growth in non-gaming sectors such as retail and hotel revenue.

In another report by Howard J Klein, it was highlighted that the market has not fully recognized the speed of Macau’s recovery, making the current entry point for Wynn Resorts attractive. Despite concerns about the post-covid Las Vegas boom losing steam, the company’s Macau properties are showing strong performance in the premium mass segment. Klein also noted that Wynn Resorts still benefits from the vision of its founder, Steve Wynn, in the properties developed before his resignation in 2018. With this positive analyst coverage, it seems that Wynn Resorts is well-positioned for continued success in the future.

A look at Wynn Resorts, Limited Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

According to the Smartkarma Smart Scores, Wynn Resorts has a positive long-term outlook. The company scores well in the areas of growth, resilience, and momentum, with scores of 4 or 5 out of 5. This indicates that Wynn Resorts is expected to continue to perform well in the future and has strong potential for growth.

Wynn Resorts, Limited is a company that owns and operates luxury hotels and casino resorts in popular destinations such as Las Vegas and Macau. They offer a range of amenities, including guest rooms, restaurants, and even a golf course. With a strong focus on growth and a solid track record of performance, Wynn Resorts is positioned well for long-term success in the hospitality and gaming industries.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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