MGM Resorts International $MGM Shares Bought by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. boosted its position in shares of MGM Resorts International (NYSE:MGM) by 47.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 136,816 shares of the company’s stock after acquiring an additional 44,263 shares during the quarter. Levin Capital Strategies L.P. owned about 0.05% of MGM Resorts International worth $4,705,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after acquiring an additional 529 shares during the period. Bayforest Capital Ltd acquired a new stake in MGM Resorts International during the 1st quarter worth about $43,000. Quarry LP lifted its position in MGM Resorts International by 24.1% during the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after acquiring an additional 349 shares during the period. Assetmark Inc. lifted its position in MGM Resorts International by 120.3% during the 2nd quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock worth $62,000 after acquiring an additional 990 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in MGM Resorts International by 27.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,986 shares of the company’s stock worth $68,000 after acquiring an additional 423 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the sale, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. The trade was a 65.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the sale, the director owned 5,385,478 shares of the company’s stock, valued at approximately $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.06% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock opened at $32.06 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The business has a 50-day moving average price of $34.59 and a 200 day moving average price of $34.47. The firm has a market cap of $8.77 billion, a PE ratio of 200.38, a P/E/G ratio of 1.40 and a beta of 1.67.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a return on equity of 16.95% and a net margin of 0.40%.The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm posted $0.54 earnings per share. MGM Resorts International’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MGM shares. Citigroup decreased their price objective on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating for the company in a report on Thursday, October 30th. Mizuho set a $62.00 price objective on MGM Resorts International in a report on Thursday. Seaport Res Ptn cut MGM Resorts International from a “strong-buy” rating to a “hold” rating in a report on Monday, July 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of MGM Resorts International in a report on Wednesday, October 8th. Finally, Barclays decreased their price objective on MGM Resorts International from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.58.

MGM Resorts International Company 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.