We recently compiled a list of the 11 Most Expensive Stocks Insiders Are Buying Recently. In this article, we are going to take a look at where Wynn Resorts, Limited (NASDAQ:WYNN) stands against the other expensive stocks. We previously covered the 10 cheapest stocks insiders are buying recently.
The broader market returned around 21% over the past 12 months, and it is also doing well this year. Since the beginning of the year, it has moved 3.45%. As the January effect starts to cool off, we thought it could be useful to look into some of the stocks that insiders have recently not been shy to spend money on. Instead of the standard P/E ratio, today we decided to focus on the average price per share.
Why are expensive stocks worth considering? High-priced stocks are often perceived as more reliable long-term investments due to the belief that their higher price reflects a history of strong performance and lower volatility. While in investing there is not a single rule that guarantees results, taking more factors into account, such as price, insider trading activity, recent results, analyst coverage, and recent company moves and strategies, might help.
Both insider selling and buying can be driven by various motives that’s why it is important to consider these moves within the broader context of the company’s fundamentals, industry trends, and overall market conditions. Due diligence before any investment is of crucial importance. However, insider trading activity, combined with other relevant factors, can provide valuable insights into a company’s capabilities, helping investors make more informed decisions.
What are some of the most expensive stocks insiders have been buying over the last 30 days? To find out, we used Insider Monkey’s insider trading stock screener, focusing only on stocks where at least two insiders had purchased shares recently. From there, we ranked the 10 stocks with the highest average price per share.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Aerial view of a luxury hotel tower surrounded by lush green landscaping.
Wynn Resorts, Limited (NASDAQ:WYNN)
Average price per share: $92.31
Market capitalization: $9.89 billion
Wynn Resorts, Limited (NASDAQ:WYNN) is an international developer and operator of luxury hotels and casinos. The Paradise, Nevada-headquartered company operates in four segments: Wynn Las Vegas, Wynn Macau, Las Vegas Operations and Encore Boston Harbor. Its offering includes private gaming salons and sky casinos, luxurious hotel suites, villas, etc. Wynn Resorts is also one of 12 best consumer discretionary stocks to buy according to analysts.
The company recently announced that Wynn Al Marjan Island has obtained a $2.4 billion construction facility with a global syndicate of lenders to finance the development of Wynn Al Marjan Island, the first integrated resort in the United Arab Emirates.
In February, two insiders purchased a total of around $2.19 million shares at an average price of $92.31 per share. The stock is now trading at $92.56, having gained 7.43% year-to-date. Over the last 12 months, the company’s shares declined 9.58%.
In 2023, the company’s operating revenue reached $7.13 billion, compared to $6.53 billion in 2023.
As many as 13 analysts have an average “Strong Buy” rating on Wynn Resorts, Limited (NASDAQ:WYNN) stock. A 12-month stock price is set to $119.23, which is 28.02% higher than the previous price, according to Stock Analysis.
Overall WYNN ranks 2nd on our list of the most expensive stocks insiders are buying recently. While we acknowledge the potential of WYNN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WYNN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
