MGM Resorts International (NYSE:MGM) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 140.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,402 shares of the company’s stock after purchasing an additional 17,751 shares during the period. XTX Topco Ltd’s holdings in MGM Resorts International were worth $1,351,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of MGM Resorts International during the 4th quarter valued at about $139,599,000. Capital World Investors grew its holdings in shares of MGM Resorts International by 17.7% during the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after purchasing an additional 984,617 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of MGM Resorts International by 112.1% during the 4th quarter. Hsbc Holdings PLC now owns 1,505,982 shares of the company’s stock worth $67,466,000 after purchasing an additional 795,920 shares during the period. Goldentree Asset Management LP bought a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $35,726,000. Finally, Boston Partners boosted its position in MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of recent research reports. Susquehanna raised their target price on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. BTIG Research assumed coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 target price for the company. Macquarie dropped their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. JMP Securities reduced their price objective on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their target price on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.93.

Insider Activity

In related news, Director Paul J. Salem purchased 147,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the purchase, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MGM Resorts International news, CEO William Hornbuckle bought 58,900 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Salem purchased 147,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The disclosure for this purchase can be found here. Insiders purchased a total of 216,400 shares of company stock valued at $7,312,197 over the last three months. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 1.1 %

MGM stock opened at $37.32 on Friday. The firm has a market cap of $11.71 billion, a PE ratio of 14.35, a P/E/G ratio of 0.64 and a beta of 2.22. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The firm has a 50 day simple moving average of $38.92 and a 200 day simple moving average of $41.22.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities research analysts forecast that MGM Resorts International will post 2.68 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.