33,372 Shares in MGM Resorts International $MGM Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new position in shares of MGM Resorts International (NYSE:MGM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,372 shares of the company’s stock, valued at approximately $1,596,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. lifted its holdings in shares of MGM Resorts International by 2.5% during the 1st quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock worth $405,000 after acquiring an additional 262 shares during the period. Global Retirement Partners LLC increased its stake in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 281 shares during the period. Tema ETFs LLC raised its position in MGM Resorts International by 10.6% in the second quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock worth $144,000 after purchasing an additional 290 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in MGM Resorts International by 23.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after purchasing an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in MGM Resorts International by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock worth $2,218,000 after purchasing an additional 397 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

NYSE MGM opened at $43.37 on Wednesday. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.23 and a beta of 1.31. The company has a 50 day moving average of $45.78 and a 200-day moving average of $41.18. 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 has a 1-year low of $29.18 and a 1-year high of $51.59.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.79 EPS. On average, equities analysts forecast that MGM Resorts International will post 1.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MGM shares. Barclays upped their price objective on MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Argus raised their target price on MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. boosted their price target on MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Citigroup increased their price objective on MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.