Deutsche Bank AG Has $41.48 Million Position in MGM Resorts International $MGM

Deutsche Bank AG lessened its position in MGM Resorts International (NYSE:MGM) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 867,669 shares of the company’s stock after selling 208,526 shares during the period. Deutsche Bank AG owned about 0.34% of MGM Resorts International worth $41,483,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MGM. Whittier Trust Co. grew its stake in MGM Resorts International by 2.5% during the first quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock worth $405,000 after buying an additional 262 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of MGM Resorts International by 55.9% in the fourth 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 last quarter. Tema ETFs LLC boosted its holdings in shares of 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 acquiring an additional 290 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of MGM Resorts International by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after acquiring an additional 313 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in MGM Resorts International by 23.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after acquiring an additional 355 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of recent analyst reports. Susquehanna boosted their price objective on MGM Resorts International from $52.00 to $53.00 and gave the stock a “positive” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group restated a “sell” rating and issued a $43.00 target price on shares of MGM Resorts International in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Morgan Stanley restated an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday, July 22nd. Finally, 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 note on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $53.37.

MGM Resorts International Price Performance

NYSE:MGM opened at $43.72 on Friday. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The company has a market cap of $11.00 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.21 and a beta of 1.31. 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’s 50-day simple moving average is $45.96 and its 200 day simple moving average is $41.02.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share 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 business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period last year, the business earned $0.79 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that MGM Resorts International will post 1.96 EPS for the current fiscal year.

MGM Resorts International 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.