MGM Resorts International $MGM Shares Purchased by LSV Asset Management

LSV Asset Management increased its stake in shares of MGM Resorts International (NYSE:MGM) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,783,800 shares of the company’s stock after buying an additional 114,400 shares during the period. LSV Asset Management owned about 1.02% of MGM Resorts International worth $96,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at approximately $25,000. Mendota Financial Group LLC purchased a new position in MGM Resorts International in the 3rd quarter valued at approximately $27,000. Mather Group LLC. purchased a new position in MGM Resorts International in the 3rd quarter valued at approximately $33,000. Employees Retirement System of Texas acquired a new position in MGM Resorts International during the second quarter worth $45,000. Finally, Assetmark Inc. boosted its position in MGM Resorts International by 120.3% during the second quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock worth $62,000 after purchasing an additional 990 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial upped their target price on MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of MGM Resorts International in a research report on Monday, December 29th. Zacks Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Argus cut their target price on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, Susquehanna reduced their price target on shares of MGM Resorts International from $46.00 to $45.00 and set a “positive” rating on the stock in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, MGM Resorts International has a consensus rating of “Hold” and a consensus price target of $42.50.

Insiders Place Their Bets

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of the business’s stock in a transaction on Friday, December 5th. The stock was bought at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the acquisition, the insider owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. The trade was a 1.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.06% of the company’s stock.

MGM Resorts International Trading Down 6.1%

Shares of MGM stock opened at $34.16 on Friday. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 45.54 and a beta of 1.44. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $35.70 and a 200 day moving average price of $34.99. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. During the same period in the previous year, the firm posted $0.45 earnings per share. Research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal 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.