Groupe la Francaise bought a new stake in MGM Resorts International (NYSE:MGM – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 57,000 shares of the company’s stock, valued at approximately $2,725,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. boosted its stake in shares of MGM Resorts International by 2.5% in the first quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock valued at $405,000 after purchasing an additional 262 shares during the period. Global Retirement Partners LLC increased its stake in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 281 shares during the period. Tema ETFs LLC lifted its holdings in MGM Resorts International by 10.6% in the 2nd quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock worth $144,000 after buying an additional 290 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in MGM Resorts International by 23.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after buying an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in MGM Resorts International by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock valued at $2,218,000 after buying an additional 397 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently weighed in on MGM. Susquehanna raised their target price on MGM Resorts International from $52.00 to $53.00 and gave the company a “positive” rating in a research note on Wednesday, July 29th. HSBC raised MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of MGM Resorts International in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.
MGM Resorts International Stock Performance
MGM stock opened at $41.19 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.11 and a beta of 1.28. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The stock’s fifty day moving average is $44.74 and its two-hundred day moving average is $41.56.
MGM Resorts International (NYSE:MGM – Get Free Report) last released its quarterly 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. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts predict that MGM Resorts International will post 1.96 EPS for the current year.
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.
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