Clough Capital Partners L P Purchases Shares of 428,440 MGM Resorts International $MGM

Key Points

• Clough Capital Partners acquired 428,440 MGM Resorts shares worth approximately $15.9 million, representing about 0.17% of the company and 1.5% of Clough’s portfolio. Institutional investors and hedge funds collectively own 68.11% of MGM.
• Analyst views remain mixed: MGM has a consensus “Hold” rating and an average price target of $52.31, despite some firms raising targets and Deutsche Bank issuing a “Buy” rating.
• MGM reported quarterly revenue of $4.45 billion, up 4.2% year over year, but earnings per share of $0.49 missed the $0.56 consensus estimate. The stock recently opened at $45.61, within its $29.18–$51.59 twelve-month range.

Clough Capital Partners L P acquired a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 428,440 shares of the company's stock, valued at approximately $15,857,000. MGM Resorts International accounts for 1.5% of Clough Capital Partners L P's investment portfolio, making the stock its 26th largest holding. Clough Capital Partners L P owned approximately 0.17% of MGM Resorts International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new stake in MGM Resorts International in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC boosted its holdings in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock worth $29,000 after acquiring an additional 281 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in MGM Resorts International in the first quarter valued at approximately $30,000. Elyxium Wealth LLC acquired a new stake in MGM Resorts International in the fourth quarter valued at approximately $42,000. Finally, City Holding Co. bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $44,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of MGM Resorts International stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MGM. Morgan Stanley reaffirmed an "underweight" rating on shares of MGM Resorts International in a research report on Wednesday. Citigroup boosted their price target on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft upped 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. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $43.00 price objective on shares of MGM Resorts International in a research note on Wednesday, July 15th. Finally, Capital One Financial lifted their price objective on shares of MGM Resorts International from $46.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of "Hold" and an average price target of $52.31.

MGM Resorts International Stock Up 0.2%

MGM stock opened at $45.61 on Monday. The firm has a market capitalization of $11.67 billion, a PE ratio of 63.35 and a beta of 1.29. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The stock's 50 day moving average is $45.61 and its 200-day moving average is $39.64.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced 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 company 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 company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. Sell-side analysts expect that MGM Resorts International will post 1.98 EPS for the current fiscal year.

MGM Resorts International 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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