Littlejohn Financial Services Inc. Purchases New Holdings in MGM Resorts International (NYSE:MGM)

Littlejohn Financial Services Inc. purchased a new position in shares of MGM Resorts International (NYSE:MGM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 30,140 shares of the company’s stock, valued at approximately $1,044,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the third quarter valued at $97,725,000. Goldentree Asset Management LP grew its position in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $17,622,000. ArrowMark Colorado Holdings LLC raised its holdings in shares of MGM Resorts International by 207.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after purchasing an additional 442,975 shares during the period. Finally, KBC Group NV raised its holdings in shares of MGM Resorts International by 3,041.1% in the 4th quarter. KBC Group NV now owns 388,047 shares of the company’s stock valued at $13,446,000 after purchasing an additional 375,693 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 17.5 %

Shares of MGM stock opened at $40.38 on Friday. The stock has a market cap of $12.02 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a 50 day simple moving average of $34.32 and a 200 day simple moving average of $36.83.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, research analysts predict that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on 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 of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group decreased their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Truist Financial dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

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.