13,654 Shares in MGM Resorts International $MGM Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in shares of MGM Resorts International (NYSE:MGM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 13,654 shares of the company’s stock, valued at approximately $653,000.

Several other hedge funds also recently bought and sold shares of MGM. Hsbc Holdings PLC increased its stake in MGM Resorts International by 31.0% in the 1st quarter. Hsbc Holdings PLC now owns 254,801 shares of the company’s stock worth $9,415,000 after buying an additional 60,340 shares during the period. Bastion Asset Management Inc. purchased a new stake in MGM Resorts International in the 1st quarter valued at about $6,212,000. M&T Bank Corp boosted its position in MGM Resorts International by 1,118.7% in the 4th quarter. M&T Bank Corp now owns 97,630 shares of the company’s stock valued at $3,563,000 after buying an additional 89,619 shares during the period. Todd Asset Management LLC grew its stake in MGM Resorts International by 9.2% in the 4th quarter. Todd Asset Management LLC now owns 709,520 shares of the company’s stock worth $25,890,000 after acquiring an additional 59,691 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in MGM Resorts International by 6.3% in the 1st quarter. California Public Employees Retirement System now owns 424,481 shares of the company’s stock worth $15,710,000 after acquiring an additional 25,266 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 0.2%

NYSE MGM opened at $43.13 on Friday. MGM Resorts International has a one year low of $29.18 and a one year 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 capitalization of $10.85 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. The company’s 50-day simple moving average is $46.07 and its two-hundred day simple moving average is $41.00.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate 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 firm 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 earned $0.79 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Equities analysts forecast that MGM Resorts International will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGM shares. Truist Financial raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and lifted their price target for the company from $42.00 to $55.00 in a research note on Wednesday, May 27th. The Goldman Sachs Group reissued a “sell” rating and issued a $43.00 price objective on shares of MGM Resorts International in a research note on Wednesday, July 15th. Morgan Stanley restated an “underweight” rating on shares of MGM Resorts International in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on MGM Resorts International from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Mizuho lowered their target price on MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

MGM Resorts International Company 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.