Why Jim Lebenthal Bought More Wynn Resorts Stock Amid Russia-Ukraine Conflict

There are a lot of ways that people could react to the Russia-Ukraine tensions, but hiding in their houses won't be one of them, according to Cerity Partners' Jim Lebenthal.

"The crowds on the Santa Monica Pier are not going to thin if [Vladimir] Putin invades Ukraine," Lebenthal said Tuesday on CNBC's "Fast Money Halftime Report."

As a result, Lebenthal sees opportunity in Wynn Resorts Ltd WYNN. With the COVID-19 omicron variant continuing to fade, people are going to leave their homes and that's not going to change, he said.

He told CNBC he has been traveling a lot more lately and has been noticing large crowds of people everywhere, including airports, which can be seen in the Transportation Security Administration (TSA) numbers.

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"In the past three weeks, you've had two days where you've had higher counts through TSA than there were in the corresponding days three years ago, well before the pandemic hit," Lebenthal said. "That's not going to change."

Lebenthal continues to believe Wynn Resorts will be a beneficiary of the reopening. He told CNBC that he added to his position Tuesday.

WYNN Price Action: Wynn Resorts has traded as low as $76.03 and as high as $143.88 over a 52-week period.

The stock was down 5.3% at $88.14 Tuesday afternoon.