Deutsche Bank AG Has $41.48 Million Position in MGM Resorts International $MGM

Deutsche Bank AG lessened its holdings in MGM Resorts International (NYSE:MGM) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 867,669 shares of the company’s stock after selling 208,526 shares during the period. Deutsche Bank AG’s holdings in MGM Resorts International were worth $41,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MGM. Whittier Trust Co. increased its holdings in shares of MGM Resorts International by 2.5% in the first quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock valued at $405,000 after purchasing an additional 262 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 281 shares during the period. Tema ETFs LLC boosted its holdings in shares of MGM Resorts International by 10.6% during the 2nd quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock worth $144,000 after buying an additional 290 shares during the period. Asset Management One Co. Ltd. grew its stake in MGM Resorts International by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock valued at $286,000 after buying an additional 313 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in MGM Resorts International by 23.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock valued at $69,000 after buying an additional 355 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Up 1.3%

MGM opened at $43.72 on Friday. The company’s 50 day moving average is $45.96 and its 200-day moving average is $41.02. The company has a market cap of $11.00 billion, a P/E ratio of 26.50, a PEG ratio of 2.21 and a beta of 1.31. MGM Resorts International has a 1-year low of $29.18 and a 1-year high of $51.59. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.MGM Resorts International’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Equities research analysts predict that MGM Resorts International will post 1.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MGM has been the subject of a number of research analyst reports. Wells Fargo & Company upgraded MGM Resorts International from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $33.00 to $48.30 in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lifted their price target on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Susquehanna boosted their price target on MGM Resorts International from $52.00 to $53.00 and gave the company a “positive” rating in a research note on Wednesday, July 29th. Truist Financial upgraded MGM Resorts International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $55.00 in a research report on Wednesday, May 27th. Finally, Citigroup boosted their target price on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

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.