Maven Securities LTD Acquires New Shares in MGM Resorts International $MGM

Maven Securities LTD bought a new stake in shares of MGM Resorts International (NYSE:MGMFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $717,000.

A number of other institutional investors and hedge funds have also modified their holdings of MGM. CYBER HORNET ETFs LLC bought a new stake in MGM Resorts International in the 2nd quarter worth about $25,000. Global Retirement Partners LLC lifted 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 valued at $29,000 after acquiring an additional 281 shares during the period. International Assets Investment Management LLC bought a new position in MGM Resorts International during the 1st quarter valued at about $30,000. Optiver Holding B.V. purchased a new stake in shares of MGM Resorts International during the 1st quarter valued at about $35,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at about $42,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $40.74 on Wednesday. The firm has a 50-day moving average price of $44.60 and a 200-day moving average price of $41.59. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $10.25 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

MGM Resorts International (NYSE:MGMGet Free Report) 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. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.MGM Resorts International’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS. As a group, equities research analysts forecast that MGM Resorts International will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group set a $48.00 target price on shares of MGM Resorts International in a research report on Thursday, July 2nd. Argus increased their target price on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Susquehanna lifted their price objective on shares of MGM Resorts International from $52.00 to $53.00 and gave the company a “positive” rating in a research report on Wednesday, July 29th. Finally, Citigroup lifted their target price on MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Two 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.37.

View Our Latest Stock Report on MGM

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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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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