Maven Securities LTD Makes New Investment in MGM Resorts International $MGM

Maven Securities LTD purchased a new position in shares of MGM Resorts International (NYSE:MGM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the company’s stock, valued at approximately $717,000.

Other institutional investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new stake in MGM Resorts International in the second quarter worth about $25,000. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 281 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MGM Resorts International during the 1st quarter valued at about $30,000. Optiver Holding B.V. purchased a new position in MGM Resorts International during the 1st quarter valued at about $35,000. Finally, Elyxium Wealth LLC bought a new stake in shares of MGM Resorts International in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 1.2%

Shares of MGM Resorts International stock opened at $40.74 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The company has a market cap of $10.25 billion, a P/E ratio of 24.69, a PEG ratio of 2.11 and a beta of 1.28. The firm’s 50 day moving average price is $44.60 and its 200-day moving average price is $41.59. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59.

MGM Resorts International (NYSE:MGM) last posted 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 net margin of 2.40% and a return on equity of 23.30%. The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. MGM Resorts International’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts predict that MGM Resorts International will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $43.00 price target on shares of MGM Resorts International in a research report on Wednesday, July 15th. Weiss Ratings raised shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. UBS Group set a $48.00 target price on MGM Resorts International in a report on Thursday, July 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

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.