MGM Resorts International $MGM Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in MGM Resorts International (NYSE:MGM – Free Report) by 8.2% during the 4th quarter, Holdings Channel reports. The fund owned 352,761 shares of the company’s stock after purchasing an additional 26,832 shares during the period. Hsbc Holdings PLC’s holdings in MGM Resorts International were worth $12,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc raised its stake 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 valued at $3,222,000 after buying an additional 55,300 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of MGM Resorts International in the third quarter worth about $2,184,000. Focus Partners Advisor Solutions LLC acquired a new stake in MGM Resorts International during the third quarter worth about $1,014,000. Assenagon Asset Management S.A. grew its holdings in MGM Resorts International by 102.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 713,772 shares of the company’s stock worth $26,046,000 after acquiring an additional 361,474 shares during the period. Finally, Todd Asset Management LLC raised its position in MGM Resorts International by 9.2% during the fourth quarter. Todd Asset Management LLC now owns 709,520 shares of the company’s stock valued at $25,890,000 after acquiring an additional 59,691 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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MGM Resorts International Stock Performance

NYSE MGM opened at $47.17 on Friday. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 65.51 and a beta of 1.31. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The stock has a 50-day moving average of $42.10 and a 200 day moving average of $38.15.

MGM Resorts International (NYSE:MGM – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS 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 firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. Sell-side analysts anticipate that MGM Resorts International will post 1.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MGM shares. KeyCorp raised MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price target for the company in a report on Monday, April 27th. Weiss Ratings raised shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Mizuho cut their target price on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Citigroup decreased their target price on shares of MGM Resorts International from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group increased their price target on shares of MGM Resorts International from $34.00 to $38.00 and gave the stock a “sell” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Hold” and an average price target of $50.18.

Check Out Our Latest Analysis on MGM Resorts International

Insider Activity

In other news, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.38% of the stock is owned by company insiders.

MGM Resorts International Company Profile

(Free Report)

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.

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