Fieldview Capital Management LLC Invests $626,000 in MGM Resorts International $MGM

Fieldview Capital Management LLC purchased a new position in shares of MGM Resorts International (NYSE:MGM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 17,142 shares of the company’s stock, valued at approximately $626,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of MGM Resorts International by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock worth $817,175,000 after acquiring an additional 340,629 shares in the last quarter. TD Asset Management Inc raised its position in shares of MGM Resorts International by 146.9% during the 3rd quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock worth $3,222,000 after purchasing an additional 55,300 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $2,184,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $1,014,000. Finally, Assenagon Asset Management S.A. raised its position in shares of MGM Resorts International by 102.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 713,772 shares of the company’s stock worth $26,046,000 after purchasing an additional 361,474 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MGM shares. Deutsche Bank Aktiengesellschaft lifted their price objective on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Barclays lifted their price objective on MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Susquehanna boosted their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a “positive” rating in a report on Monday, June 1st. Truist Financial upgraded MGM Resorts International from a “hold” rating to a “buy” rating and boosted their price target for the company from $42.00 to $55.00 in a report on Wednesday, May 27th. Finally, Weiss Ratings upgraded MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.18.

MGM Resorts International Trading Down 0.8%

Shares of MGM opened at $48.59 on Tuesday. The stock has a fifty day moving average of $40.51 and a two-hundred day moving average of $37.49. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market capitalization of $12.43 billion, a PE ratio of 67.49 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 issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, analysts forecast that MGM Resorts International will post 1.95 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. acquired 450,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average cost of $37.13 per share, for a total transaction of $16,708,500.00. Following the acquisition, the insider directly owned 66,822,350 shares in the company, valued at approximately $2,481,113,855.50. This represents a 0.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.38% of the company’s stock.

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.