MGM Resorts International (NYSE:MGM) Shares Purchased by Malaga Cove Capital LLC

Malaga Cove Capital LLC raised its position in shares of MGM Resorts International (NYSE:MGM) by 76.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,196 shares of the company’s stock after purchasing an additional 5,276 shares during the quarter. Malaga Cove Capital LLC’s holdings in MGM Resorts International were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the second quarter valued at approximately $28,000. Eastern Bank purchased a new stake in shares of MGM Resorts International in the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the period. UMB Bank n.a. increased its stake in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of MGM Resorts International during the second quarter worth $49,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MGM shares. Susquehanna increased their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Truist Financial reduced their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities cut their target price on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.83% of the stock is owned by company insiders.

MGM Resorts International Stock Up 3.3 %

Shares of NYSE MGM opened at $37.43 on Thursday. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.60 and a beta of 2.23. The company’s 50-day simple moving average is $38.35 and its 200-day simple moving average is $40.04. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

MGM Resorts International 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.