11,867 Shares in MGM Resorts International $MGM Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC acquired a new position in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, HoldingsChannel reports. The fund acquired 11,867 shares of the company’s stock, valued at approximately $433,000.

A number of other institutional investors have also recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC purchased a new stake in MGM Resorts International during the second quarter worth about $25,000. Global Retirement Partners LLC boosted its holdings in MGM Resorts International by 55.9% during the fourth 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. Elyxium Wealth LLC purchased a new stake in MGM Resorts International during the fourth quarter worth about $42,000. City Holding Co. purchased a new stake in MGM Resorts International during the fourth quarter worth about $44,000. Finally, Stance Capital LLC purchased a new stake in MGM Resorts International during the third quarter worth about $46,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 4.7%

Shares of NYSE MGM opened at $48.29 on Wednesday. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The company has a market capitalization of $12.36 billion, a PE ratio of 67.08 and a beta of 1.31. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. The firm’s 50-day moving average is $38.28 and its two-hundred day moving average is $36.39.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. Equities analysts anticipate that MGM Resorts International will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MGM. KeyCorp raised shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price target on the stock in a report on Monday, April 27th. Capital One Financial upped their price target on shares of MGM Resorts International from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Berenberg Bank reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Wednesday, February 11th. JPMorgan Chase & Co. raised shares of MGM Resorts International from a “neutral” rating to an “overweight” rating and set a $46.00 price target on the stock in a report on Wednesday, May 27th. Finally, Mizuho reduced their price target on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $49.12.

Trending Headlines about MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Deutsche Bank raised its price target on MGM Resorts International to $55 and reiterated a buy rating, signaling more upside if the deal process or fundamentals improve.
• Positive Sentiment: Industry coverage highlighted improving gaming trends, including strong online betting demand and Macau revenue, which could support MGM’s business even if the buyout does not proceed. Article: 4 Gaming Stocks Worth Watching Despite Industry Headwinds
• Positive Sentiment: BetMGM announced a new sweepstakes partnership with Marriott Bonvoy, adding another marketing push for its sports betting and iGaming platform. Article: BetMGM and Marriott Bonvoy Launch World’s Game Sweepstakes
• Neutral Sentiment: Johnson Fistel launched an investigation into whether MGM’s board breached fiduciary duties in connection with the potential go-private deal, which adds uncertainty but does not yet change the deal outcome. Article: Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the transaction, the director owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The SEC filing for this sale provides additional information. Insiders own 3.38% of the company’s stock.

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.