Groupe la Francaise Takes Position in MGM Resorts International $MGM

Groupe la Francaise acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 57,000 shares of the company’s stock, valued at approximately $2,725,000.

A number of other institutional investors have also recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC bought a new position in MGM Resorts International during the 2nd quarter valued at $25,000. Global Retirement Partners LLC raised its stake in shares of MGM Resorts International by 55.9% in the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 281 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the first quarter valued at $30,000. Optiver Holding B.V. bought a new position in MGM Resorts International during the first quarter valued at about $35,000. Finally, Elyxium Wealth LLC bought a new position in MGM Resorts International during the fourth quarter valued at about $42,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of MGM Resorts International from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Jefferies Financial Group restated a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Susquehanna boosted their target price on shares of MGM Resorts International from $52.00 to $53.00 and gave the stock a “positive” rating in a report on Wednesday, July 29th. Morgan Stanley reissued an “underweight” rating on shares of MGM Resorts International in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company upgraded shares of MGM Resorts International from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $33.00 to $48.30 in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.37.

MGM Resorts International Trading Down 0.1%

NYSE MGM opened at $41.19 on Tuesday. The firm’s 50 day moving average price is $44.74 and its two-hundred day moving average price is $41.56. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.11 and a beta of 1.28.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. Equities analysts anticipate that MGM Resorts International will post 1.96 EPS for the current year.

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.