Fieldview Capital Management LLC Invests $626,000 in MGM Resorts International $MGM

Fieldview Capital Management LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,142 shares of the company’s stock, valued at approximately $626,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MGM. CYBER HORNET ETFs LLC acquired a new stake in shares of MGM Resorts International during the second quarter worth about $25,000. Global Retirement Partners LLC increased its position in shares of MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter worth about $42,000. City Holding Co. acquired a new stake in shares of MGM Resorts International during the fourth quarter worth about $44,000. Finally, Stance Capital LLC acquired a new stake in shares of MGM Resorts International during the third quarter worth about $46,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on MGM Resorts International from $34.00 to $38.00 and gave the stock a “sell” rating in a report on Thursday, April 30th. Stifel Nicolaus reissued a “hold” rating and set a $49.00 price target (up from $48.00) on shares of MGM Resorts International in a report on Monday. Jefferies Financial Group lowered MGM Resorts International from a “buy” rating to a “hold” rating and lowered their price target for the stock from $50.00 to $44.00 in a report on Friday, May 1st. Barclays raised their price target on MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, KeyCorp raised MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price target on the stock in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.18.

MGM Resorts International Price Performance

Shares of MGM opened at $48.59 on Tuesday. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The stock’s 50 day moving average is $40.51 and its two-hundred day moving average is $37.49. The firm has a market capitalization of $12.43 billion, a PE ratio of 67.49 and a beta of 1.31. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share 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 business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the firm posted $0.69 EPS. MGM Resorts International’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that MGM Resorts International will post 1.95 earnings per share for the current 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.