62,923 Shares in MGM Resorts International $MGM Acquired by XTX Topco Ltd

XTX Topco Ltd purchased a new stake in MGM Resorts International (NYSE:MGM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 62,923 shares of the company’s stock, valued at approximately $2,164,000.

Several other large investors also recently modified their holdings of MGM. American Assets Inc. increased its stake in MGM Resorts International by 66.7% in the second quarter. American Assets Inc. now owns 30,000 shares of the company’s stock valued at $950,000 after purchasing an additional 12,000 shares in the last quarter. Key Colony Management LLC grew its stake in shares of MGM Resorts International by 9.8% in the 2nd quarter. Key Colony Management LLC now owns 615,000 shares of the company’s stock valued at $21,150,000 after buying an additional 55,000 shares during the period. Ground Swell Capital LLC bought a new stake in MGM Resorts International in the 1st quarter valued at about $248,000. Allianz Asset Management GmbH raised its stake in MGM Resorts International by 1,371.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 446,650 shares of the company’s stock worth $15,360,000 after buying an additional 416,297 shares during the period. Finally, South Dakota Investment Council bought a new position in MGM Resorts International in the second quarter worth approximately $757,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity

In other news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider owned 31,521 shares of the company’s stock, valued at $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the transaction, the director owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MGM. Macquarie reduced their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Zacks Research lowered MGM Resorts International from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGM Resorts International in a research report on Tuesday. Wells Fargo & Company started coverage on MGM Resorts International in a research report on Tuesday, November 18th. They issued an “underweight” rating and a $29.00 price target for the company. Finally, Stifel Nicolaus set a $45.00 price objective on shares of MGM Resorts International in a report on Thursday, October 30th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.97.

MGM Resorts International Stock Performance

NYSE:MGM opened at $34.80 on Thursday. The company has a market capitalization of $9.52 billion, a P/E ratio of 217.47, a P/E/G ratio of 1.40 and a beta of 1.66. The business has a fifty day simple moving average of $32.96 and a two-hundred day simple moving average of $34.58. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $41.32.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a return on equity of 16.95% and a net margin of 0.40%.The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.