MGM Resorts International $MGM Holdings Decreased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 385,477 shares of the company's stock after selling 40,569 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of MGM Resorts International worth $18,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC boosted its holdings 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 during the period. International Assets Investment Management LLC purchased a new position in MGM Resorts International during the first quarter valued at approximately $30,000. Optiver Holding B.V. acquired a new position in MGM Resorts International in the 1st quarter valued at approximately $35,000. Finally, Fiduciary Financial Advisors purchased a new stake in MGM Resorts International in the 2nd quarter worth approximately $48,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 0.1%

Shares of MGM Resorts International stock opened at $41.19 on Friday. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The stock has a 50 day moving average price of $44.91 and a two-hundred day moving average price of $41.46. The stock has a market capitalization of $10.36 billion, a P/E ratio of 24.96, a PEG ratio of 2.10 and a beta of 1.28.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The company's quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that MGM Resorts International will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MGM. Morgan Stanley restated an "underweight" rating on shares of MGM Resorts International in a report on Wednesday, July 22nd. Stifel Nicolaus reissued a "hold" rating and set a $49.00 price objective (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th. Jefferies Financial Group reaffirmed a "hold" rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Truist Financial upgraded MGM Resorts International from a "hold" rating to a "buy" rating and increased their price objective for the stock from $42.00 to $55.00 in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MGM Resorts International from $46.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.37.

MGM Resorts International Company 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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