AXQ Capital LP Takes Position in MGM Resorts International $MGM

AXQ Capital LP bought a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 28,628 shares of the company's stock, valued at approximately $1,369,000.

Other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MGM Resorts International by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company's stock valued at $582,000 after acquiring an additional 951 shares during the period. NewEdge Advisors LLC grew its holdings in shares of MGM Resorts International by 12.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company's stock worth $115,000 after purchasing an additional 421 shares during the last quarter. Woodline Partners LP grew its holdings in shares of MGM Resorts International by 39.1% in the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company's stock worth $560,000 after purchasing an additional 5,312 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of MGM Resorts International by 57.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company's stock worth $112,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in MGM Resorts International by 221.9% during the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company's stock valued at $921,000 after purchasing an additional 18,463 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HSBC upgraded MGM Resorts International to a "strong-buy" rating in a research report on Thursday, July 30th. Stifel Nicolaus restated a "hold" rating and issued a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research note on Monday, June 15th. Jefferies Financial Group reiterated a "hold" rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Barclays increased their price objective 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, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $43.00 target price on shares of MGM Resorts International in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of "Moderate Buy" and an average target price of $53.37.

MGM Resorts International Stock Up 0.1%

NYSE:MGM opened at $41.19 on Friday. The stock has a 50-day simple moving average of $44.91 and a 200 day simple moving average of $41.46. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The company has a market cap of $10.36 billion, a PE ratio of 24.96, a PEG ratio of 2.10 and a beta of 1.28. 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 released its earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, sell-side analysts expect that MGM Resorts International will post 1.96 EPS for the current fiscal year.

MGM Resorts International Company Profile

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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