MGM Resorts International $MGM Shares Purchased by LSV Asset Management

LSV Asset Management grew its stake in shares of MGM Resorts International (NYSE:MGM) by 4.3% in the third quarter, HoldingsChannel reports. The fund owned 2,783,800 shares of the company’s stock after buying an additional 114,400 shares during the quarter. LSV Asset Management’s holdings in MGM Resorts International were worth $96,487,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 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 purchasing an additional 951 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of MGM Resorts International by 12.1% during 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 during the period. Woodline Partners LP grew its stake in shares of MGM Resorts International by 39.1% during the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock valued at $560,000 after buying an additional 5,312 shares during the period. Aberdeen Group plc increased its holdings in shares of MGM Resorts International by 3.7% during the 2nd quarter. Aberdeen Group plc now owns 164,217 shares of the company’s stock worth $5,647,000 after buying an additional 5,805 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of MGM Resorts International by 12.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 11,380 shares of the company’s stock worth $391,000 after buying an additional 1,288 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. purchased 1,098,748 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were purchased at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the purchase, the insider directly owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. This represents a 1.70% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Argus reduced their price objective on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Morgan Stanley reiterated an “underweight” rating and set a $34.00 target price on shares of MGM Resorts International in a report on Wednesday. Barclays set a $37.00 target price on shares of MGM Resorts International in a research report on Friday, February 6th. Finally, Mizuho set a $62.00 price target on shares of MGM Resorts International in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.50.

MGM Resorts International Price Performance

MGM stock opened at $34.16 on Friday. The firm has a market cap of $9.34 billion, a P/E ratio of 45.54 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.19 and a current ratio of 1.23. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $41.32. The stock has a 50-day simple moving average of $35.70 and a 200-day simple moving average of $34.99.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International 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.