Tidal Investments LLC Boosts Stock Holdings in MGM Resorts International $MGM

Tidal Investments LLC boosted its position in MGM Resorts International (NYSE:MGM) by 154.6% in the second quarter, Holdings Channel.com reports. The firm owned 102,642 shares of the company’s stock after acquiring an additional 62,330 shares during the quarter. Tidal Investments LLC’s holdings in MGM Resorts International were worth $4,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $25,000. Global Retirement Partners LLC boosted its stake in shares of MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 281 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International in the first quarter valued at approximately $30,000. Optiver Holding B.V. acquired a new position in MGM Resorts International during the first quarter worth $35,000. Finally, Fiduciary Financial Advisors acquired a new position in MGM Resorts International during the second quarter worth $48,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MGM shares. Truist Financial raised MGM Resorts International from a “hold” rating to a “buy” rating and raised their target price for the company from $42.00 to $55.00 in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $43.00 price target on shares of MGM Resorts International in a research note on Wednesday, July 15th. Jefferies Financial Group reiterated a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. Barclays raised their price objective 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, Stifel Nicolaus restated a “hold” rating and set a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.25.

MGM Resorts International Trading Up 0.3%

Shares of MGM Resorts International stock opened at $40.02 on Monday. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. The business has a 50 day moving average price of $44.19 and a 200 day moving average price of $41.68. The company has a market capitalization of $10.07 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.04 and a beta of 1.28.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. MGM Resorts International’s quarterly revenue was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that MGM Resorts International will post 1.96 EPS for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.