Mirador Capital Partners LP Acquires New Holdings in MGM Resorts International $MGM

Key Points

• Mirador Capital Partners acquired 50,305 shares of MGM Resorts International in the second quarter, valued at approximately $2.4 million. Institutional investors collectively own 68.11% of MGM’s outstanding shares.
• Analyst sentiment remains broadly positive, with MGM holding a “Moderate Buy” consensus rating and an average price target of $52.49, despite differing views ranging from “Strong Buy” to “Sell.”
• MGM reported quarterly EPS of $0.59, exceeding estimates of $0.56, while revenue reached $4.45 billion and increased 2.2% year over year. Shares opened at $44.52, down 2.6%, with a 52-week range of $29.18 to $51.59.

Mirador Capital Partners LP bought a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 50,305 shares of the company's stock, valued at approximately $2,405,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MGM Resorts International by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company's stock worth $582,000 after purchasing an additional 951 shares during the period. NewEdge Advisors LLC raised its position in MGM Resorts International by 12.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company's stock worth $115,000 after purchasing an additional 421 shares during the last quarter. Woodline Partners LP lifted its holdings in MGM Resorts International by 39.1% during the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company's stock worth $560,000 after buying an additional 5,312 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of MGM Resorts International by 57.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company's stock valued at $112,000 after buying an additional 1,182 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of MGM Resorts International by 221.9% in the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company's stock valued at $921,000 after buying an additional 18,463 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Daniel J. Taylor sold 6,675 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on MGM shares. Mizuho cut their price objective on MGM Resorts International from $62.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, April 27th. HSBC upgraded shares of MGM Resorts International to a "strong-buy" rating in a report on Thursday, July 30th. Capital One Financial boosted their price target on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Morgan Stanley reaffirmed an "underweight" rating on shares of MGM Resorts International in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.49.

MGM Resorts International Trading Down 2.6%

Shares of MGM stock opened at $44.52 on Thursday. The company has a market cap of $11.20 billion, a P/E ratio of 26.98 and a beta of 1.31. The stock has a 50 day simple moving average of $46.78 and a two-hundred day simple moving average of $40.23. 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 has a fifty-two week low of $29.18 and a fifty-two week high of $51.59.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. Research analysts forecast that MGM Resorts International will post 2.03 earnings per share for the current 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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