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In recent transactions, Fertitta Entertainment, Inc., led by Tilman J. Fertitta, has acquired significant shares of Wynn Resorts Ltd (NASDAQ:WYNN), which currently trades at $84.87 and shows strong financial health according to InvestingPro analysis. On March 21 and March 24, the company purchased a total of 16,500 shares of common stock for approximately $1.38 million, with prices ranging from $80.99 to $84.93 per share.
Additionally, Hospitality Headquarters Inc., another entity associated with Fertitta, acquired 1,683,500 shares on March 24 through a previously disclosed share option transaction, valued at approximately $144.33 million at a price of $85.73 per share. This acquisition was part of a strategic move, contingent upon regulatory clearance under the Hart-Scott-Rodino Antitrust Improvements Act. With analysts maintaining a strong buy consensus and projecting significant upside potential, InvestingPro data reveals the company maintains healthy liquidity with a current ratio of 1.9.
Following these transactions, Fertitta Entertainment and its affiliates now hold a substantial number of shares in Wynn Resorts, reflecting their continued investment in the hospitality and gaming industry. The company appears undervalued based on InvestingPro’s Fair Value analysis, with a solid EBITDA of $1.8 billion in the last twelve months.
In other recent news, Wynn Resorts reported impressive financial results for the fourth quarter of 2024, surpassing analysts’ expectations. The company’s earnings per share reached $2.42, significantly higher than the forecasted $1.33, while revenue totaled $1.84 billion, exceeding projections by $60 million. This strong performance was driven by robust operations across Las Vegas, Macau, and Boston. Following the earnings announcement, several analyst firms updated their outlooks for Wynn Resorts. Jefferies upgraded the stock from Hold to Buy, raising the price target to $118, citing the company’s long-term capital investment plans and the ongoing recovery in Macau. Stifel also maintained a Buy rating and increased the price target to $128, highlighting Wynn Resorts’ "unrealistic discounted multiple" and the potential rise in valuation of its Macau assets. CFRA raised its price target to $113, maintaining a Strong Buy rating, while Citi increased its target to $97, reaffirming a Buy rating. These developments reflect a positive sentiment among analysts regarding Wynn Resorts’ financial strategies and future growth prospects.
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