Winning Points Advisors LLC Makes New Investment in MGM Resorts International $MGM

Winning Points Advisors LLC bought a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,250 shares of the company’s stock, valued at approximately $848,000. MGM Resorts International accounts for approximately 0.8% of Winning Points Advisors LLC’s portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MGM Resorts International by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock worth $582,000 after buying an additional 951 shares in the last quarter. NewEdge Advisors LLC increased its holdings in MGM Resorts International by 12.1% in the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after buying an additional 421 shares in the last quarter. Woodline Partners LP lifted its position in shares of MGM Resorts International by 39.1% during the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock valued at $560,000 after acquiring an additional 5,312 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 57.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock worth $112,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of MGM Resorts International by 221.9% in the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock worth $921,000 after acquiring an additional 18,463 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGM has been the subject of several research analyst reports. Mizuho dropped their price objective on MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Barclays raised their price target on MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Weiss Ratings raised MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. upgraded shares of MGM Resorts International from a “neutral” rating to an “overweight” rating and set a $46.00 price objective on the stock in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating and dropped their target price for the company from $50.00 to $44.00 in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.76.

Insider Activity

In other news, Director Daniel J. Taylor sold 6,675 shares of MGM Resorts International stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Iac Inc. purchased 450,000 shares of the stock in a transaction dated Tuesday, March 24th. The shares were purchased at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the completion of the acquisition, the insider owned 66,822,350 shares of the company’s stock, valued at approximately $2,481,113,855.50. This represents a 0.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.38% of the stock is owned by company insiders.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $47.22 on Friday. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 65.58 and a beta of 1.31. The stock has a fifty day moving average of $40.03 and a two-hundred day moving average of $37.27. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the business earned $0.69 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that MGM Resorts International will post 1.95 EPS for the current fiscal year.

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.