Vise Technologies Inc. Acquires New Holdings in MGM Resorts International $MGM

Vise Technologies Inc. bought a new position in shares of MGM Resorts International (NYSE:MGM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,072 shares of the company’s stock, valued at approximately $577,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGM. AQR Capital Management LLC raised its holdings in MGM Resorts International by 202.5% in the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after acquiring an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after purchasing an additional 3,429,946 shares in the last quarter. Davis Selected Advisers lifted its holdings in shares of MGM Resorts International by 12.0% during the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after acquiring an additional 2,866,750 shares during the period. Norges Bank bought a new position in MGM Resorts International during the fourth quarter worth about $82,348,000. Finally, Samlyn Capital LLC bought a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $62,787,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.1%

NYSE:MGM opened at $43.72 on Tuesday. The stock’s fifty day moving average price is $45.87 and its two-hundred day moving average price is $41.14. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.24 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period last year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts anticipate that MGM Resorts International will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MGM shares. UBS Group set a $48.00 price target on shares of MGM Resorts International in a research report on Thursday, July 2nd. Citigroup boosted their target price on MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Morgan Stanley restated an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday, July 22nd. KeyCorp upgraded MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price objective for the company in a research report on Monday, April 27th. Finally, Argus boosted their price objective on MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.37.

About MGM Resorts International

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.