Marathon Trading Investment Management LLC Purchases New Shares in MGM Resorts International (NYSE:MGM)

Marathon Trading Investment Management LLC acquired a new position in MGM Resorts International (NYSE:MGM) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 7,000 shares of the company’s stock, valued at approximately $274,000.

A number of other institutional investors have also recently bought and sold shares of the business. Boston Partners raised its position in shares of MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares in the last quarter. Bamco Inc. NY raised its holdings in MGM Resorts International by 3.6% in the 1st quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock valued at $99,191,000 after acquiring an additional 73,515 shares in the last quarter. Empower Advisory Group LLC lifted its position in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the period. Marshall Wace LLP lifted its position in shares of MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the period. Finally, Key Colony Management LLC increased its position in shares of MGM Resorts International by 11.1% in the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after purchasing an additional 88,000 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MGM shares. Mizuho cut their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Barclays cut their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Truist Financial decreased their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Finally, JMP Securities decreased their price target on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $37.28 on Friday. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.66 and a beta of 2.23. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average price is $38.44 and its 200-day moving average price is $39.82. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.13% of the stock is owned by company insiders.

MGM Resorts International Company 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.