Jefferies Financial Group Inc. Purchases Shares of 63,000 MGM Resorts International $MGM

Jefferies Financial Group Inc. purchased a new position in MGM Resorts International (NYSE:MGM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 63,000 shares of the company’s stock, valued at approximately $2,184,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MGM. Helikon Investments Ltd boosted its position in shares of MGM Resorts International by 379.9% during the 2nd quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock valued at $302,987,000 after acquiring an additional 6,974,347 shares in the last quarter. Davis Selected Advisers boosted its holdings in MGM Resorts International by 14.4% during the second quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after purchasing an additional 3,006,052 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of MGM Resorts International by 119.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,212,114 shares of the company’s stock valued at $144,855,000 after purchasing an additional 2,293,797 shares during the period. Norges Bank bought a new stake in shares of MGM Resorts International in the 2nd quarter valued at approximately $60,570,000. Finally, Goldentree Asset Management LP raised its holdings in shares of MGM Resorts International by 20.7% in the 2nd quarter. Goldentree Asset Management LP now owns 5,402,092 shares of the company’s stock worth $185,778,000 after buying an additional 924,810 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock opened at $34.99 on Wednesday. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $40.16. 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 firm’s 50 day moving average is $35.30 and its 200-day moving average is $34.92. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 46.65 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the business posted $0.45 earnings per share. Sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 37,500 shares of MGM Resorts International stock in a transaction on Monday, March 9th. The stock was sold at an average price of $34.27, for a total value of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup raised their target price on MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Texas Capital upgraded MGM Resorts International to a “strong-buy” rating in a research note on Thursday, January 8th. Morgan Stanley restated an “underweight” rating and issued a $34.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 11th. Zacks Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research report on Wednesday, February 11th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Hold” and a consensus price target of $41.94.

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.