Blueshift Asset Management LLC Grows Stake in MGM Resorts International (NYSE:MGM)

Blueshift Asset Management LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,436 shares of the company’s stock after buying an additional 482 shares during the quarter. Blueshift Asset Management LLC’s holdings in MGM Resorts International were worth $994,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after buying an additional 278 shares in the last quarter. HB Wealth Management LLC raised its position in shares of MGM Resorts International by 6.3% in the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after buying an additional 293 shares during the last quarter. Quent Capital LLC lifted its stake in shares of MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after buying an additional 304 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in MGM Resorts International by 60.7% during 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 last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial decreased their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley boosted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Barclays lowered their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, JMP Securities cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

MGM Resorts International Price Performance

Shares of MGM opened at $37.55 on Wednesday. The firm has a fifty day moving average price of $38.68 and a 200 day moving average price of $39.69. The stock has a market cap of $11.18 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.74 and a beta of 2.23. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.5 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated 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 $210,716,912.16. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

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.