Ken Griffin’s Citadel Investment Group is a prominent stakeholder of the company, with 662,502 shares worth $41.75 million. On December 7, Stifel analyst Steven Wieczynski raised the price target on Wynn Resorts, Limited (NASDAQ:WYNN) to $109 from $85 and maintained a Buy rating on the shares, citing his belief that Wynn Resorts, Limited (NASDAQ:WYNN) "represents one of the most compelling ideas under our coverage given the massive underperformance over the last 24 months coupled with benign investor expectations." He believes Macau-centric stocks such as Wynn Resorts, Limited (NASDAQ:WYNN) could present investors with "an interesting way to play the China reopening story" heading into 2023.Īccording to Insider Monkey’s data, 23 hedge funds were bullish on Wynn Resorts, Limited (NASDAQ:WYNN) at the end of September 2022, compared to 26 funds in the prior quarter. On December 16, the company announced that Wynn Resorts Macau has signed a 10-year agreement with the Macau government for the renewal of its gaming concession.
Wynn Resorts, Limited (NASDAQ:WYNN) is one of the best travel stocks to invest in. The company designs, develops, and operates integrated resorts, offering private gaming salons, casinos, luxury hotel towers, health clubs, spas, salons, and pools. Wynn Resorts, Limited (NASDAQ:WYNN) was founded in 2002 and is based in Las Vegas, Nevada. (NYSE:LVS), Carnival Corporation & plc (NYSE:CUK) is one of the best travel stocks to invest in. Like The Walt Disney Company (NYSE:DIS), MGM Resorts International (NYSE:MGM), and Las Vegas Sands Corp. Robert Henry Lynch’s Aristeia Capital is the biggest position holder in the company, with 11.2 million shares worth nearly $70 million. Analyst Robin Farley issued the ratings update.Īccording to Insider Monkey’s Q3 data, 14 hedge funds were bullish on Carnival Corporation & plc (NYSE:CUK), with collective stakes worth $116.2 million, compared to 13 funds in the prior quarter worth $100.8 million. Investment advisory UBS on November 14 raised the firm's price target on Carnival Corporation & plc (NYSE:CUK) to 1,219 GBp from 588 GBp and kept a Buy rating on the shares.
The convertible notes will mature on December 1, 2027. The notes will pay interest bi-annually on June 1 and December 1 of each year, beginning on June 1, 2023, at a rate of 5.75% per year. On November 16, Carnival Corporation & plc (NYSE:CUK) announced a private offering of $1 billion aggregate principal amount of its 5.75% convertible senior notes due 2027 as part of the company's 2024 refinancing plan with potential cash redemption feature. The list is arranged according to the number of hedge fund holders in each firm. We have assessed the hedge fund sentiment from Insider Monkey’s database of 920 elite hedge funds tracked as of the end of the third quarter of 2022. We selected the following travel stocks based on positive analyst coverage, strong business fundamentals, and market visibility. Despite a slowing global economy, pent up travel and leisure demand makes it a good idea to pick up some of the best travel stocks like The Walt Disney Company (NYSE: DIS), MGM Resorts International (NYSE: MGM), and Las Vegas Sands Corp. By 2025, travel revenue will provide 32% more to the Asian GDP than it did pre-pandemic.Īs per a Bloomberg report dated December 13, China’s swift reopening and easing of Covid Zero policies has initiated a solid rebound in the world’s largest domestic air travel market, which is a positive catalyst for the ‘Big Three’ Chinese airlines, which have suffered billions of dollars in losses since the beginning of the pandemic. The report suggests ongoing gains to Asia-Pacific’s travel sector in 2023, and the year after that is also expected to bring positive growth in the industry. Later, Japan, South Korea, and Taiwan also opened up. Travel restrictions were first lifted in India and Australia, followed by Malaysia, Thailand, and other Southeast Asian countries. However, the report by World Travel & Tourism Council demonstrates that the Asia-Pacific is forecasted to bridge the gap this year, and travel revenue contribution to the economy will increase by nearly 71%.
Recovery initiatives in the region were dull in 2021, as most countries maintained tight border restrictions. The Travel & Tourism Economic Impact report for 2022 by the London-based World Travel & Tourism Council indicated that tourism revenue in 2020 declined about 59% in the Asia-Pacific as compared to 2019 levels, which was the highest global drop. If you want to see more stocks in this selection, check out 5 Best Travel Stocks To Buy Right Now. In this article, we discuss 11 best travel stocks to buy right now.
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