Jupiter Topco LLC Invests $3.68 Million in MGM Resorts International $MGM

Key Points

• Jupiter Topco LLC acquired 77,000 MGM Resorts shares during the second quarter, valued at approximately $3.68 million. Institutional investors and hedge funds collectively own 68.11% of MGM’s outstanding stock.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $53.37. Recent firms generally maintained or upgraded ratings, though Morgan Stanley retained an “underweight” view.
• MGM’s stock opened at $40.65, below its 52-week high of $51.59. In its latest quarter, the company reported $0.59 in adjusted EPS versus a $0.56 estimate and revenue of $4.45 billion, up 2.2% year over year.

Jupiter Topco LLC bought a new stake in MGM Resorts International (NYSE:MGM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 77,000 shares of the company's stock, valued at approximately $3,684,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MGM. CYBER HORNET ETFs LLC acquired a new stake in MGM Resorts International in the 2nd quarter valued at $25,000. Global Retirement Partners LLC lifted its stake 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 purchasing an additional 281 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International during the first quarter worth about $30,000. Optiver Holding B.V. purchased a new stake in shares of MGM Resorts International in the first quarter worth about $35,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on MGM. Jefferies Financial Group reissued a "hold" rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Weiss Ratings raised shares of MGM Resorts International from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, July 30th. Morgan Stanley reissued an "underweight" rating on shares of MGM Resorts International in a research report on Wednesday, July 22nd. Wells Fargo & Company upgraded shares of MGM Resorts International from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $33.00 to $48.30 in a research note on Tuesday, July 7th. Finally, Barclays raised their price target on shares of MGM Resorts International from $39.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, July 9th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.37.

MGM Resorts International Stock Down 1.7%

NYSE:MGM opened at $40.65 on Wednesday. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. MGM Resorts International has a one year low of $29.18 and a one year high of $51.59. The stock has a 50-day simple moving average of $45.31 and a 200 day simple moving average of $41.36. 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 announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. MGM Resorts International's revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that MGM Resorts International will post 1.96 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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