Montanova Capital LLC Grows Stock Holdings in MGM Resorts International $MGM

Montanova Capital LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,325,360 shares of the company’s stock after acquiring an additional 166,560 shares during the period. MGM Resorts International accounts for about 1.8% of Montanova Capital LLC’s holdings, making the stock its 17th biggest position. Montanova Capital LLC owned approximately 0.92% of MGM Resorts International worth $111,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International in the second quarter valued at approximately $25,000. Global Retirement Partners LLC raised its stake in shares of MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International during the first quarter worth $30,000. Optiver Holding B.V. acquired a new stake in shares of MGM Resorts International during the first quarter worth $35,000. Finally, Fiduciary Financial Advisors purchased a new position in MGM Resorts International in the 2nd quarter valued at $48,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on MGM. Susquehanna upped their price objective on shares of MGM Resorts International from $52.00 to $53.00 and gave the stock a “positive” rating in a research report on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of MGM Resorts International in a research note on Thursday, July 2nd. Weiss Ratings raised shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. Stifel Nicolaus restated a “hold” rating and issued a $49.00 price objective (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th. Finally, Barclays lifted their price objective on MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Two equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $53.37.

MGM Resorts International Stock Performance

NYSE:MGM opened at $41.42 on Tuesday. The firm’s fifty day simple moving average is $45.43 and its 200-day simple moving average is $41.33. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The stock has a market cap of $10.42 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.31. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59.

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