Pallas Capital Advisors LLC Has $983,000 Holdings in MGM Resorts International $MGM

Pallas Capital Advisors LLC raised its holdings in MGM Resorts International (NYSE:MGM) by 170.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,357 shares of the company’s stock after acquiring an additional 17,863 shares during the period. Pallas Capital Advisors LLC’s holdings in MGM Resorts International were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Public Sector Pension Investment Board grew its position in shares of MGM Resorts International by 3.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 44,042 shares of the company’s stock valued at $1,526,000 after purchasing an additional 1,468 shares during the period. Atria Investments Inc raised its holdings in shares of MGM Resorts International by 5.4% during the third quarter. Atria Investments Inc now owns 48,189 shares of the company’s stock worth $1,670,000 after acquiring an additional 2,450 shares during the period. Savvy Advisors Inc. bought a new stake in MGM Resorts International in the 3rd quarter valued at $279,000. LSV Asset Management boosted its stake in MGM Resorts International by 4.3% in the 3rd quarter. LSV Asset Management now owns 2,783,800 shares of the company’s stock worth $96,487,000 after purchasing an additional 114,400 shares during the period. Finally, ING Groep NV bought a new position in MGM Resorts International during the 3rd quarter worth about $915,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MGM shares. Zacks Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a report on Monday, December 29th. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $33.00 price target on shares of MGM Resorts International in a research report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, MGM Resorts International currently has an average rating of “Hold” and a consensus target price of $41.94.

Insider Transactions at MGM Resorts International

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 bought at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the completion of the transaction, the insider directly owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. This trade represents a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.06% of the stock is owned by corporate insiders.

MGM Resorts International Trading Up 0.4%

Shares of MGM stock opened at $34.29 on Wednesday. The stock has a market cap of $8.77 billion, a P/E ratio of 45.72 and a beta of 1.44. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. The stock has a 50 day simple moving average of $35.61 and a 200 day simple moving average of $34.89. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $40.16.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping 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 26.04%. 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 firm posted $0.45 EPS. On average, research analysts predict that MGM Resorts International will post 2.21 earnings per share 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.