MGM Resorts International $MGM Shares Bought by Montanova Capital LLC

Montanova Capital LLC grew its position in MGM Resorts International (NYSE:MGM) by 7.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,325,360 shares of the company’s stock after purchasing an additional 166,560 shares during the period. MGM Resorts International makes up 1.8% of Montanova Capital LLC’s holdings, making the stock its 17th biggest position. Montanova Capital LLC’s holdings in MGM Resorts International were worth $111,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of MGM Resorts International in the 2nd quarter worth about $249,000. Sigma Planning Corp purchased a new position in MGM Resorts International during the 2nd quarter valued at about $221,000. Two Sigma Securities LLC purchased a new position in MGM Resorts International during the 2nd quarter valued at about $387,000. Harvest Management LLC acquired a new position in MGM Resorts International during the second quarter worth about $2,008,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in MGM Resorts International by 2.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,657 shares of the company’s stock worth $1,322,000 after acquiring an additional 790 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $41.42 on Tuesday. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The stock has a market capitalization of $10.42 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.16 and a beta of 1.31. The firm’s 50-day moving average is $45.43 and its two-hundred day moving average is $41.33. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 earnings per share. Equities analysts predict that MGM Resorts International will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MGM. UBS Group set a $48.00 price target on shares of MGM Resorts International in a research report on Thursday, July 2nd. Susquehanna lifted their price objective on MGM Resorts International from $52.00 to $53.00 and gave the stock a “positive” rating in a research report on Wednesday, July 29th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research note on Monday, June 15th. Truist Financial upgraded MGM Resorts International from a “hold” rating to a “buy” rating and increased their target price for the company from $42.00 to $55.00 in a report on Wednesday, May 27th. Finally, Argus raised their price target on MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.37.

MGM Resorts International Company 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.