MGM Resorts International $MGM Shares Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 24.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 95,668 shares of the company’s stock after buying an additional 19,025 shares during the period. New Age Alpha Advisors LLC’s holdings in MGM Resorts International were worth $3,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGM. AQR Capital Management LLC raised its stake in MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after acquiring an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after acquiring an additional 3,429,946 shares during the period. Davis Selected Advisers raised its stake in MGM Resorts International by 12.0% during the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after acquiring an additional 2,866,750 shares during the period. Samlyn Capital LLC acquired a new stake in MGM Resorts International during the third quarter worth about $62,787,000. Finally, SG Americas Securities LLC raised its stake in MGM Resorts International by 461.5% during the fourth quarter. SG Americas Securities LLC now owns 607,164 shares of the company’s stock worth $22,155,000 after acquiring an additional 499,024 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE MGM opened at $38.44 on Tuesday. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $40.94. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 53.39 and a beta of 1.28. The company has a 50-day moving average price of $37.59 and a two-hundred day moving average price of $36.00.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the company posted $0.69 EPS. MGM Resorts International’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts forecast that MGM Resorts International will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MGM shares. Barclays increased their price objective on shares of MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of MGM Resorts International in a research note on Friday, May 1st. Finally, Truist Financial upped their target price on shares of MGM Resorts International from $39.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.12.

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 shares were sold at an average price of $34.27, for a total value of $1,285,125.00. Following the completion of the transaction, the director directly owned 5,347,978 shares in the company, valued at $183,275,206.06. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Iac Inc. acquired 550,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $37.30 per share, with a total value of $20,515,000.00. Following the completion of the acquisition, the insider directly owned 66,372,350 shares of the company’s stock, valued at approximately $2,475,688,655. This represents a 0.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.38% of the company’s stock.

About MGM Resorts International

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.