MGM Resorts International $MGM Position Boosted by Mudita Advisors LLP

Key Points

• 106.8% increase: Mudita Advisors LLP boosted its MGM stake in the 3rd quarter to 628,338 shares (about 0.23% of MGM) worth $21.78 million, making the stock its 5th-largest holding (≈6.3% of Mudita's portfolio).
• MGM beat quarterly estimates with EPS of $1.60 versus $0.64 and revenue of $4.61 billion versus $4.42 billion; shares traded near $36.84 and analysts have a consensus Hold rating with an average price target of $41.94.
• Institutional buying continued broadly—Vanguard owns 23.6 million shares (~$817.2M) and other firms (e.g., Corient, Wealth Enhancement) added positions, leaving institutions and hedge funds with about 68.11% ownership of MGM.

Mudita Advisors LLP grew its position in MGM Resorts International (NYSE:MGM - Free Report) by 106.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,338 shares of the company's stock after purchasing an additional 324,500 shares during the period. MGM Resorts International makes up approximately 6.3% of Mudita Advisors LLP's holdings, making the stock its 5th largest holding. Mudita Advisors LLP owned approximately 0.23% of MGM Resorts International worth $21,778,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Corient Private Wealth LLC increased its position in shares of MGM Resorts International by 356.6% in the second quarter. Corient Private Wealth LLC now owns 528,526 shares of the company's stock worth $18,176,000 after acquiring an additional 412,767 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of MGM Resorts International by 109.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company's stock valued at $4,276,000 after acquiring an additional 67,542 shares in the last quarter. Vanguard Group Inc. boosted its position in MGM Resorts International by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company's stock worth $817,175,000 after purchasing an additional 340,629 shares during the period. WINTON GROUP Ltd acquired a new stake in MGM Resorts International in the 2nd quarter valued at $6,351,000. Finally, Savant Capital LLC increased its holdings in MGM Resorts International by 100.0% in the 3rd quarter. Savant Capital LLC now owns 62,892 shares of the company's stock valued at $2,180,000 after purchasing an additional 31,446 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings restated a "sell (d)" rating on shares of MGM Resorts International in a research note on Monday, December 29th. UBS Group lowered their target price on MGM Resorts International from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Monday, November 17th. Susquehanna dropped their target price on MGM Resorts International from $46.00 to $45.00 and set a "positive" rating on the stock in a report on Friday, February 6th. Argus reduced their price target on MGM Resorts International from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, November 14th. Finally, Capital One Financial decreased their price target on MGM Resorts International from $47.00 to $46.00 and set an "overweight" rating for the company in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $41.94.

MGM Resorts International Stock Up 1.5%

Shares of NYSE MGM traded up $0.54 during midday trading on Friday, reaching $36.84. 413,449 shares of the company's stock were exchanged, compared to its average volume of 5,037,279. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $40.16. The business's fifty day moving average price is $35.30 and its two-hundred day moving average price is $34.94. The stock has a market capitalization of $9.42 billion, a PE ratio of 48.99 and a beta of 1.38.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.96. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. Analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the transaction, the director directly owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.06% of the company's stock.

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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