Valeo Financial Advisors LLC Makes New $236,000 Investment in MGM Resorts International $MGM

Valeo Financial Advisors LLC bought a new position in MGM Resorts International (NYSE:MGM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,874 shares of the company’s stock, valued at approximately $236,000.

Other hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new position in MGM Resorts International during the 2nd quarter valued at about $171,632,000. Helikon Investments Ltd bought a new position in shares of MGM Resorts International during the first quarter valued at approximately $54,418,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of MGM Resorts International during the first quarter valued at approximately $47,631,000. AQR Capital Management LLC boosted its stake in shares of MGM Resorts International by 104.2% during the first quarter. AQR Capital Management LLC now owns 2,611,278 shares of the company’s stock valued at $75,962,000 after purchasing an additional 1,332,313 shares in the last quarter. Finally, GMT Capital Corp bought a new position in shares of MGM Resorts International during the first quarter valued at approximately $36,656,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the transaction, the insider owned 31,521 shares in the company, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the sale, the director directly owned 5,385,478 shares in the company, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MGM. Mizuho lowered their target price on MGM Resorts International from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, September 22nd. The Goldman Sachs Group reduced their price target on MGM Resorts International from $37.00 to $34.00 and set a “sell” rating for the company in a research report on Wednesday, October 1st. Citizens Jmp lowered MGM Resorts International from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 26th. Susquehanna lifted their target price on MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, July 29th. Finally, UBS Group lowered their price target on shares of MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $31.29 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22. The company has a market cap of $8.52 billion, a PE ratio of 17.19, a P/E/G ratio of 1.38 and a beta of 1.67. The business has a 50-day simple moving average of $35.80 and a two-hundred day simple moving average of $34.02. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $42.53.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.21. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.28 billion. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. As a group, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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.