Delta Global Management LP bought a new position in MGM Resorts International (NYSE:MGM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 67,367 shares of the company's stock, valued at approximately $2,493,000.
A number of other large investors have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new stake in shares of MGM Resorts International in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock worth $29,000 after buying an additional 281 shares during the period. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International during the first quarter worth about $30,000. Elyxium Wealth LLC bought a new position in shares of MGM Resorts International during the fourth quarter worth about $42,000. Finally, City Holding Co. acquired a new stake in MGM Resorts International in the 4th quarter valued at approximately $44,000. Institutional investors own 68.11% of the company's stock.
Analysts Set New Price Targets
MGM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $48.00 to $55.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reiterated a "sell" rating and issued a $43.00 price objective on shares of MGM Resorts International in a report on Wednesday, July 15th. Wells Fargo & Company raised shares of MGM Resorts International from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $33.00 to $48.30 in a research report on Tuesday, July 7th. Barclays increased their target price on shares of MGM Resorts International from $39.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $52.31.
Get Our Latest Analysis on MGM Resorts International
MGM Resorts International Stock Performance
Shares of NYSE MGM opened at $45.61 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. The stock has a 50 day moving average price of $45.61 and a 200 day moving average price of $39.61. The stock has a market capitalization of $11.67 billion, a PE ratio of 63.35 and a beta of 1.29. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59.
MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. Analysts predict that MGM Resorts International will post 1.98 earnings per share for the current fiscal year.
Insider Buying and Selling at MGM Resorts International
In other news, Director Daniel J. Taylor sold 6,675 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.38% of the stock is owned by corporate insiders.
About MGM Resorts International
(
Free Report)
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.
Further Reading
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