{"id":259475,"date":"2023-02-13T11:15:40","date_gmt":"2023-02-13T17:15:40","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=259475"},"modified":"2023-02-13T15:52:43","modified_gmt":"2023-02-13T21:52:43","slug":"wynn-resorts-could-be-alpha-generator-says-goldman-sachs","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/","title":{"rendered":"Wynn Resorts Among Top Alpha Picks at Goldman Sachs"},"content":{"rendered":"

Already up 33.32% year to date, Wynn Resorts (NASDAQ: WYNN) stock got another assist Monday, landing a spot on a Goldman Sachs list of equities with the potential to be big alpha generators this year.<\/p>\n

\"Wynn
Wynn and Encore on the Las Vegas Strip. Wynn Resorts stock was named a high dispersion name by Goldman Sachs. (Image: Luxury Lifestyle Magazine<\/em>)<\/figcaption><\/figure>\n

In financial market parlance, \u201calpha\u201d describes an asset\u2019s out-performance relative to a benchmark. In a hypothetical example, if Wynn rises 50% this year while the S&P 500 gains 20%, the gaming stock would generate 30% worth of alpha.<\/p>\n

Higher by nearly 7% over the past week, Wynn stock could further benefit this year as market participants return to stock picking and focusing on company-specific factors over macroeconomic issues.<\/p>\n

In a micro-driven market, a high share of the typical stock\u2019s return is explained by company-specific factors, while a macro-driven market means the returns for the typical stock are primarily explained by factors such as beta, sector, size and valuation,\u201d wrote David Kostin, Goldman\u2019s chief U.S. equity strategist, in a report.<\/p><\/blockquote>\n

Wynn delivered fourth-quarter results<\/a> last week. Investors appeared enthusiastic about the data from the operator\u2019s Las Vegas Strip venues and Encore Boston Harbor, as well as the 2023 outlook for the company\u2019s pair of Macau integrated resorts.<\/p>\n

Wynn Resorts Could Be Dispersion Winner<\/h2>\n

Goldman Sachs ranked stocks by dispersion scores, which gauges an equity\u2019s volatility and how likely it is to move based on firm-specific catalysts over macroeconomic considerations.<\/p>\n

\n

The investment bank published a list of 10 stocks with the highest dispersion scores, on which Wynn ranks eighth and is the only gaming name. The caveat with dispersion is that while the metric may signal opportunity for investors, it\u2019s not a guaranteed upside. It\u2019s possible that high-dispersion names will decline or trade flat.<\/p>\n<\/div>\n

For now, the key element in Wynn\u2019s year-to-date performance is investor enthusiasm for China\u2019s reopening, which is boosting Macau\u2019s rebound<\/a>. Operators there are signaling profitability in January, validating the pent-up demand thesis.<\/p>\n

\u201cMacau rebounded sharply in early-1Q23 during the Chinese New Year holiday after most significant travel and COVID-19 mitigation restrictions were relaxed in the region, as WYNN\u2019s properties generated $4M of EBITDA per day during the week-long period. Mass table drop was 95% of pre-pandemic levels, and the direct VIP volumes and retail sales surpassed 1Q19 levels by 40% and 34%, respectively, with hotel occupancy of 96%,\u201d wrote Stifel analyst Steven Wieczynski in a note out last week.<\/p>\n

Wynn Not Impervious to Macroeconomic Issues<\/h2>\n

Particularly for risk-tolerant investors, there is an opportunity with high-dispersion names such as Wynn, but that doesn\u2019t mean these companies aren\u2019t vulnerable to macroeconomic headwinds.<\/p>\n

Although periods of economic distress have historically coincided with elevated levels of volatility, stock correlation should also spike as market-wide macro factors drive returns across all stocks,\u201d<\/strong> added Goldman\u2019s Kostin.<\/p><\/blockquote>\n

Specific to Wynn, Macau would have to<\/a> carry the day for the stock if a US recession arrives because that scenario would likely pinch the operator\u2019s Las Vegas casinos and Encore Boston Harbor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Already up 33.32% year to date, Wynn Resorts (NASDAQ: WYNN) stock got another assist Monday, landing a spot on a Goldman Sachs list of equities with the potential to be big alpha generators this year. In financial market parlance, \u201calpha\u201d describes an asset\u2019s out-performance relative to a benchmark. In a hypothetical example, if Wynn rises […]<\/p>\n","protected":false},"author":46,"featured_media":259477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nWynn Resorts Could Be Alpha Generator, Says Goldman Sachs<\/title>\n<meta name=\"description\" content=\"Wynn Resorts highlighted by Goldman Sachs as high dispersion stock.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wynn Resorts Could Be Alpha Generator, Says Goldman Sachs\" \/>\n<meta property=\"og:description\" content=\"Wynn Resorts highlighted by Goldman Sachs as high dispersion stock.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-13T17:15:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-13T21:52:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1368\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/\",\"url\":\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/\",\"name\":\"Wynn Resorts Could Be Alpha Generator, Says Goldman Sachs\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\",\"datePublished\":\"2023-02-13T17:15:40+00:00\",\"dateModified\":\"2023-02-13T21:52:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Wynn Resorts highlighted by Goldman Sachs as high dispersion stock.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/wynn-resorts-could-be-alpha-generator-says-goldman-sachs\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/wynn-1.jpg\",\"width\":1368,\"height\":628,\"caption\":\"Wynn and Encore on the Las Vegas Strip. The stock is off to a bad start in August and that's par for the course for the shares in the eighth month of the year. 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