Wynn Resorts Ltd. (WYNN) has been buzzing in investment circles, given its recent earnings releases and strategy shift. Major shareholder, Golden Nugget owner Tilman Fertitta increased his stake in the company during a market selloff, while various financial institutions including Farringdon Capital LTD, Long Pond Capital LP, and Prudential PLC also purchased considerable new shares. The passing of Elaine Wynn, one of the co-founders and major shareholders, led to considerable market discussion around WYNN. Despite the slight downturn in stock price hitting a 52-week low of $68.61, there is an overall consensus among analysts suggesting the buy position on the company’s stock. Recent acquisitions such as the Crown London by WYNN contribute to the company's growth, while WYNN’s expansion to the UAE due to receiving the country's first gambling license adds to its market position. The setbacks faced by WYNN, such as having to forfeit $130M over illegal transactions, result in a mixed market sentiment. Institutional shareholders owning 67% of the company have been contemplating drastic actions following a recent US$1.4b drop. Despite this, the company's stock surged by 13% within a month.
