50,305 Shares in MGM Resorts International $MGM Acquired by Mirador Capital Partners LP

Mirador Capital Partners LP purchased a new position in MGM Resorts International (NYSE:MGM) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 50,305 shares of the company’s stock, valued at approximately $2,405,000.

A number of other hedge funds have 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 during the second quarter worth approximately $25,000. Global Retirement Partners LLC grew its position in MGM Resorts International by 55.9% in the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 281 shares during the period. International Assets Investment Management LLC bought a new stake in MGM Resorts International during the 1st quarter valued at $30,000. Optiver Holding B.V. bought a new stake in MGM Resorts International during the 1st quarter valued at $35,000. Finally, Elyxium Wealth LLC acquired a new position in MGM Resorts International during the fourth quarter worth $42,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM opened at $44.52 on Thursday. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 26.98 and a beta of 1.31. The firm’s fifty day moving average price is $46.78 and its two-hundred day moving average price is $40.23.

MGM Resorts International (NYSE:MGM) last announced its earnings results 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 company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts anticipate that MGM Resorts International will post 2.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MGM. Capital One Financial raised their price objective on shares of MGM Resorts International from $46.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Wells Fargo & Company raised shares of MGM Resorts International from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $33.00 to $48.30 in a research report on Tuesday, July 7th. Susquehanna upped their target price on shares of MGM Resorts International from $52.00 to $53.00 and gave the stock a “positive” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on shares of MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Barclays lifted their price target 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. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.49.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.38% of the company’s stock.

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.