13,381 Shares in MGM Resorts International $MGM Purchased by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,381 shares of the company’s stock, valued at approximately $640,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 buying an additional 951 shares during the last quarter. NewEdge Advisors LLC grew its holdings in MGM Resorts International by 12.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after buying an additional 421 shares in the last quarter. Woodline Partners LP increased its position in MGM Resorts International by 39.1% during the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after acquiring an additional 5,312 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 57.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock worth $112,000 after purchasing an additional 1,182 shares during the period. Finally, Jump Financial LLC increased its stake in MGM Resorts International by 221.9% during the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock worth $921,000 after acquiring an additional 18,463 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $43.00 price objective on shares of MGM Resorts International in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. HSBC raised MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. Argus increased their price objective on shares of MGM Resorts International from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Citigroup increased their target price on MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.37.

MGM Resorts International Stock Down 1.3%

MGM Resorts International stock opened at $42.39 on Friday. The firm’s fifty day moving average is $45.53 and its 200 day moving average is $41.28. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The company has a market capitalization of $10.66 billion, a PE ratio of 25.69, a PEG ratio of 2.20 and a beta of 1.31. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that MGM Resorts International will post 1.96 EPS for the current fiscal year.

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.