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 stake in MGM Resorts International (NYSE:MGM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,343 shares of the company's stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. lifted its position in shares of MGM Resorts International by 74.6% during the first quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company's stock worth $646,000 after purchasing an additional 9,304 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in MGM Resorts International by 60.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company's stock valued at $1,830,000 after buying an additional 23,234 shares during the period. Achmea Investment Management B.V. lifted its holdings in MGM Resorts International by 46.3% in the first quarter. Achmea Investment Management B.V. now owns 35,227 shares of the company's stock valued at $1,045,000 after buying an additional 11,152 shares during the period. Osborne Partners Capital Management LLC lifted its holdings in MGM Resorts International by 4.1% in the first quarter. Osborne Partners Capital Management LLC now owns 326,197 shares of the company's stock valued at $9,668,000 after buying an additional 12,833 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in MGM Resorts International by 3.7% in the first quarter. D.A. Davidson & CO. now owns 303,470 shares of the company's stock valued at $8,995,000 after buying an additional 10,690 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Susquehanna upped their target price on shares of MGM Resorts International from $50.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. assumed coverage on shares of MGM Resorts International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $38.00 target price for the company. Wall Street Zen raised shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup raised shares of MGM Resorts International from a "hold" rating to a "strong-buy" rating and upped their target price for the stock from $55.00 to $57.00 in a research note on Wednesday, July 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of MGM Resorts International in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and an average target price of $48.67.

MGM Resorts International Price Performance

MGM stock traded up $0.03 during mid-day trading on Wednesday, hitting $35.39. The stock had a trading volume of 734,029 shares, compared to its average volume of 5,213,951. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $42.53. The firm has a market capitalization of $9.63 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.51 and a beta of 1.69. The firm has a fifty day simple moving average of $36.99 and a 200 day simple moving average of $33.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.58 by $0.21. The business had revenue of $4.40 billion for 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%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. As a group, research analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the sale, the insider directly owned 31,521 shares of the company's stock, valued at $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 242,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the sale, the director directly owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.06% of the company's stock.

About MGM Resorts International

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.