Engine Capital Management LP Has $3.70 Million Stock Holdings in MGM Resorts International $MGM

Key Points

• Engine Capital Management cut its MGM Resorts stake by 33.3% in the first quarter, selling 50,000 shares and retaining 100,000 shares worth approximately $3.70 million. MGM now represents 0.4% of the firm’s portfolio, while institutional investors own 68.11% of the stock.
• Analyst sentiment remains mixed: MGM has a consensus “Hold” rating and an average price target of $52.31, with ratings spanning Strong Buy to Sell.
• MGM shares recently opened at $46.33, near their 50-day average of $45.79, while the company’s latest quarterly results included $0.49 in adjusted EPS—below the $0.56 consensus estimate—despite revenue of $4.45 billion exceeding expectations.

Engine Capital Management LP trimmed its position in MGM Resorts International (NYSE:MGM - Free Report) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company's stock after selling 50,000 shares during the quarter. MGM Resorts International makes up 0.4% of Engine Capital Management LP's portfolio, making the stock its 21st biggest position. Engine Capital Management LP's holdings in MGM Resorts International were worth $3,701,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in shares of MGM Resorts International in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC lifted 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 valued at $29,000 after buying an additional 281 shares during the period. International Assets Investment Management LLC bought a new position in MGM Resorts International in the first quarter valued at approximately $30,000. Elyxium Wealth LLC bought a new position in MGM Resorts International in the fourth quarter valued at approximately $42,000. Finally, City Holding Co. acquired a new stake in MGM Resorts International during the 4th quarter worth $44,000. 68.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MGM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target 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. Stifel Nicolaus reiterated a "hold" rating and issued a $49.00 price objective (up from $48.00) on shares of MGM Resorts International in a report on Monday, June 15th. KeyCorp raised MGM Resorts International from a "sector weight" rating to an "overweight" rating and set a $117.00 target price on the stock in a research note on Monday, April 27th. UBS Group set a $48.00 target price on MGM Resorts International in a report on Thursday, July 2nd. Finally, Barclays boosted their target price on MGM Resorts International from $39.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of "Hold" and an average target price of $52.31.

Insider Activity at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.38% of the stock is currently owned by corporate insiders.

MGM Resorts International Price Performance

Shares of MGM stock opened at $46.33 on Tuesday. 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 12-month low of $29.18 and a 12-month high of $51.59. The firm has a fifty day moving average of $45.79 and a 200-day moving average of $39.71. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 64.34 and a beta of 1.29.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the business posted $0.69 EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that MGM Resorts International will post 1.98 earnings per share for the current 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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