HG Vora Capital Management LLC Acquires New Holdings in MGM Resorts International (NYSE:MGM)

HG Vora Capital Management LLC purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,500,000 shares of the company’s stock, valued at approximately $97,725,000. MGM Resorts International accounts for about 7.2% of HG Vora Capital Management LLC’s holdings, making the stock its 6th biggest position.

A number of other large investors have also made changes to their positions in the stock. Fisher Asset Management LLC grew its holdings in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after buying an additional 90,645 shares in the last quarter. Goldentree Asset Management LP raised its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after purchasing an additional 123,124 shares during the last quarter. FMR LLC boosted its position in shares of MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares in the last quarter. Finally, Empower Advisory Group LLC grew 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. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.2 %

Shares of MGM opened at $38.27 on Tuesday. The stock has a market capitalization of $11.39 billion, a PE ratio of 13.67, a P/E/G ratio of 2.74 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The company’s 50-day simple moving average is $38.73 and its 200-day simple moving average is $39.57.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MGM. Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Barclays cut their target price on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Mizuho dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.85.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.83% of the stock is currently owned by insiders.

About MGM Resorts International

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.