Wilmington Savings Fund Society FSB Acquires New Position in MGM Resorts International (NYSE:MGM)

Wilmington Savings Fund Society FSB bought a new position in shares of MGM Resorts International (NYSE:MGM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,397 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds have also bought and sold shares of the stock. Marshall Wace LLP boosted its holdings in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares in the last quarter. Empower Advisory Group LLC boosted its stake in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares during the last quarter. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the period. Maverick Capital Ltd. acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth approximately $1,211,000. Finally, American Assets Capital Advisers LLC raised its position in MGM Resorts International by 135.0% in the third quarter. American Assets Capital Advisers LLC now owns 469,552 shares of the company’s stock valued at $18,355,000 after purchasing an additional 269,761 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the subject of several recent research reports. Mizuho lowered their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Barclays reduced their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Truist Financial dropped their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, JMP Securities reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.54.

MGM Resorts International Trading Up 2.2 %

Shares of MGM stock opened at $34.16 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a fifty day moving average of $37.80 and a 200-day moving average of $39.19. MGM Resorts International has a 52-week low of $33.28 and a 52-week high of $48.24. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 3.10 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.13% of the stock is owned by insiders.

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.