J. Goldman & Co LP Makes New $1.81 Million Investment in MGM Resorts International $MGM

J. Goldman & Co LP bought a new stake in shares of MGM Resorts International (NYSE:MGM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,964 shares of the company’s stock, valued at approximately $1,815,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in MGM Resorts International by 31.0% during the 1st quarter. Hsbc Holdings PLC now owns 254,801 shares of the company’s stock worth $9,415,000 after purchasing an additional 60,340 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in shares of MGM Resorts International in the first quarter valued at about $6,212,000. Todd Asset Management LLC grew its position in shares of MGM Resorts International by 9.2% in the fourth quarter. Todd Asset Management LLC now owns 709,520 shares of the company’s stock valued at $25,890,000 after purchasing an additional 59,691 shares in the last quarter. California Public Employees Retirement System lifted its position in MGM Resorts International by 6.3% during the first quarter. California Public Employees Retirement System now owns 424,481 shares of the company’s stock worth $15,710,000 after buying an additional 25,266 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in MGM Resorts International by 76.0% during the first quarter. Quantinno Capital Management LP now owns 353,320 shares of the company’s stock worth $13,076,000 after buying an additional 152,529 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM opened at $43.37 on Wednesday. MGM Resorts International has a 1-year low of $29.18 and a 1-year high of $51.59. The stock has a market cap of $10.91 billion, a PE ratio of 26.29, a P/E/G ratio of 2.23 and a beta of 1.31. The firm has a 50-day simple moving average of $45.78 and a two-hundred day simple moving average of $41.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts forecast that MGM Resorts International will post 1.96 EPS for the current year.

Analysts Set New Price Targets

MGM has been the topic of several analyst reports. Stifel Nicolaus reiterated 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, June 15th. HSBC upgraded shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. Barclays increased their price target on shares of MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $43.00 price target on shares of MGM Resorts International in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $53.37.

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.