MGM Resorts International $MGM Shares Acquired by Mudita Advisors LLP

Mudita Advisors LLP grew its position in MGM Resorts International (NYSE:MGM) by 106.8% in the third quarter, Holdings Channel.com reports. The fund owned 628,338 shares of the company’s stock after buying an additional 324,500 shares during the period. MGM Resorts International makes up approximately 6.3% of Mudita Advisors LLP’s investment portfolio, making the stock its 5th largest position. Mudita Advisors LLP’s holdings in MGM Resorts International were worth $21,778,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MGM. Vanguard Personalized Indexing Management LLC grew its holdings in shares of MGM Resorts International by 0.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock valued at $1,378,000 after purchasing an additional 328 shares during the last quarter. NewEdge Advisors LLC lifted its stake in MGM Resorts International by 12.1% in the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after buying an additional 421 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of MGM Resorts International by 22.5% during the third quarter. Hantz Financial Services Inc. now owns 2,432 shares of the company’s stock worth $84,000 after acquiring an additional 446 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of MGM Resorts International by 7.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,387 shares of the company’s stock worth $256,000 after acquiring an additional 543 shares during the period. Finally, Creative Planning lifted its position in MGM Resorts International by 0.6% in the 2nd quarter. Creative Planning now owns 94,815 shares of the company’s stock valued at $3,261,000 after purchasing an additional 577 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the subject of several recent analyst reports. Citigroup upped their target price on shares of MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a research 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. Capital One Financial decreased their price objective on MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 5th. Zacks Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Berenberg Bank reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.94.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the transaction, the director directly owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.06% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock traded up $0.54 during midday trading on Friday, reaching $36.84. 413,449 shares of the company were exchanged, compared to its average volume of 5,037,279. The company’s 50 day moving average price is $35.30 and its two-hundred day moving average price is $34.94. The company has a market cap of $9.42 billion, a P/E ratio of 48.99 and a beta of 1.38. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $40.16. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period last year, the firm posted $0.45 earnings per share. On average, sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International 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.