MBB Public Markets I LLC Invests $277,000 in MGM Resorts International $MGM

Key Points

• MBB Public Markets I LLC has invested approximately $277,000 in MGM Resorts International, acquiring 9,343 shares as part of its new position in the company.
• Multiple institutional investors, including AQR Capital Management and UniSuper Management, have increased their holdings in MGM Resorts during the 1st quarter, indicating strong institutional interest.
• MGM Resorts reported $0.79 EPS for the last quarter, exceeding analysts' expectations, with total revenue of $4.40 billion, representing a year-over-year increase of 1.8%.

MBB Public Markets I LLC bought a new position in MGM Resorts International (NYSE:MGM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,343 shares of the company's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. UniSuper Management Pty Ltd increased its position in shares of MGM Resorts International by 14.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 55,911 shares of the company's stock worth $1,657,000 after purchasing an additional 7,215 shares during the last quarter. NewEdge Advisors LLC boosted 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 valued at $115,000 after buying an additional 421 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of MGM Resorts International by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company's stock valued at $582,000 after buying an additional 951 shares during the period. AQR Capital Management LLC boosted its holdings in shares of MGM Resorts International by 104.2% in the 1st quarter. AQR Capital Management LLC now owns 2,611,278 shares of the company's stock valued at $75,962,000 after buying an additional 1,332,313 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in shares of MGM Resorts International by 42.4% in the 1st quarter. Ancora Advisors LLC now owns 12,369 shares of the company's stock valued at $367,000 after buying an additional 3,681 shares during the period. Institutional investors own 68.11% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 18th. JMP Securities reaffirmed a "market perform" rating on shares of MGM Resorts International in a report on Thursday, June 26th. Mizuho decreased their price target on shares of MGM Resorts International from $59.00 to $58.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of MGM Resorts International in a research note on Monday, July 7th. They set a "sell" rating and a $34.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and an average price target of $48.67.

MGM Resorts International Stock Down 1.6%

MGM opened at $35.36 on Friday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $42.53. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The company has a 50-day moving average price of $37.12 and a 200 day moving average price of $33.74. The company has a market cap of $9.62 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.69.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.21. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. MGM Resorts International's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 242,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.06% of the company's stock.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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