WINTON GROUP Ltd Buys Shares of 184,670 MGM Resorts International $MGM

WINTON GROUP Ltd purchased a new stake in MGM Resorts International (NYSE:MGM) during the 2nd quarter, Holdings Channel reports. The firm purchased 184,670 shares of the company’s stock, valued at approximately $6,351,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Employees Retirement System of Texas acquired a new stake in MGM Resorts International in the 2nd quarter valued at approximately $45,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of MGM Resorts International by 66.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after purchasing an additional 529 shares during the period. Bayforest Capital Ltd bought a new stake in shares of MGM Resorts International during the first quarter valued at about $43,000. Quarry LP lifted its holdings in MGM Resorts International by 24.1% in the first quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after purchasing an additional 349 shares during the period. Finally, Assetmark Inc. grew its position in MGM Resorts International by 120.3% in the 2nd quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock valued at $62,000 after buying an additional 990 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

MGM opened at $36.08 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. The firm has a market cap of $9.87 billion, a PE ratio of 225.51, a P/E/G ratio of 2.67 and a beta of 1.48. The business has a fifty day simple moving average of $33.00 and a 200-day simple moving average of $34.66. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a return on equity of 17.23% and a net margin of 0.40%.The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Macquarie dropped their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Mizuho set a $62.00 price objective on shares of MGM Resorts International in a research note on Thursday, October 30th. Argus cut their target price on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Deutsche Bank Aktiengesellschaft lowered their price target on MGM Resorts International from $54.00 to $53.00 in a research report on Monday, September 22nd. Finally, Barclays dropped their price objective on MGM Resorts International from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Thirteen 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 presently has an average rating of “Hold” and an average target price of $45.42.

MGM Resorts International 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.