23,311 Shares in MGM Resorts International $MGM Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC acquired 23,311 shares of MGM Resorts International in the second quarter, valued at approximately $1.11 million. Institutional investors collectively own 68.11% of MGM’s outstanding shares.
• MGM reported quarterly earnings of $0.59 per share, beating estimates by $0.03, while revenue rose 2.2% year over year to $4.45 billion. Analysts forecast full-year earnings of $1.96 per share.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $53.37, above the stock’s reported price of $43.72.

Callan Family Office LLC bought a new position in MGM Resorts International (NYSE:MGM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 23,311 shares of the company's stock, valued at approximately $1,114,000.

Several other large investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in shares of MGM Resorts International in the second quarter worth $25,000. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock valued at $29,000 after buying an additional 281 shares during the period. International Assets Investment Management LLC bought a new stake in MGM Resorts International during the first quarter valued at $30,000. Optiver Holding B.V. purchased a new position in MGM Resorts International during the first quarter worth about $35,000. Finally, Elyxium Wealth LLC bought a new position in MGM Resorts International in the 4th quarter worth about $42,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Trading Down 0.1%

Shares of MGM opened at $43.72 on Tuesday. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59. The firm has a market cap of $11.00 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.24 and a beta of 1.31. The firm has a 50 day moving average price of $45.87 and a 200-day moving average price of $41.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm's revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. As a group, equities research analysts forecast that MGM Resorts International will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded MGM Resorts International from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $33.00 to $48.30 in a research report on Tuesday, July 7th. Susquehanna raised their target price on shares of MGM Resorts International from $52.00 to $53.00 and gave the company a "positive" rating in a research note on Wednesday, July 29th. Argus lifted their target price on shares of MGM Resorts International from $45.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, August 17th. JPMorgan Chase & Co. boosted their price target on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of MGM Resorts International from $48.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $53.37.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

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