As Wynn Resorts stock continues its dramatic stock-price rise from recent lows, Los Angeles-based Capital World Investors filed an SEC Schedule 13G report showing it increased its stakes in the casino operator in excess of 5%. The investment management firm now owns 5.54 million shares, or 5.2 percent, of Wynn stock.
Capital World has been a long-time investor in Wynn and its stake in the company rises and falls over time.
Capital World Investors is a privately owned investment manager that manages equity and balanced mutual funds, operating under the umbrella of Capital Research and Management Company. As part of Capital Group, it focuses on public-equity and fixed-income markets. It has more than $2 trillion in assets under management.
Some of its holdings include Microsoft, Amazon, Meta, Eli Lilly, Philip Morris International, Nvidia, Netflix, and Tesla.
Wynn stock has surged $23 in the past month to $96.79 at the close on Tuesday. It’s up $13.61 over the past week. Analysts continue to rate the stock as a Buy, with optimism over its project in the United Arab Emirates.
Billionaire Tilman Fertitta is Wynn’s leading shareholder with an excess of 10% ownership stake.
