MGM Resorts International $MGM Shares Sold by Hosking Partners LLP

Hosking Partners LLP lowered its position in shares of MGM Resorts International (NYSE:MGM) by 6.9% in the third quarter, HoldingsChannel reports. The fund owned 662,020 shares of the company’s stock after selling 48,926 shares during the period. Hosking Partners LLP’s holdings in MGM Resorts International were worth $20,556,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in MGM Resorts International during the 1st quarter worth about $30,000. Optiver Holding B.V. acquired a new position in MGM Resorts International during the 1st quarter valued at about $35,000. Versant Capital Management Inc boosted its stake in shares of MGM Resorts International by 41.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,437 shares of the company’s stock valued at $45,000 after purchasing an additional 420 shares during the last quarter. Fiduciary Financial Advisors bought a new position in shares of MGM Resorts International in the 2nd quarter valued at about $48,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of MGM Resorts International in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGM shares. Argus boosted their price target on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $48.30 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday. The Goldman Sachs Group set a $30.00 target price on shares of MGM Resorts International in a report on Tuesday, October 13th. JPMorgan Chase & Co. dropped their target price on shares of MGM Resorts International from $53.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Truist Financial cut their price target on MGM Resorts International from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.71.

MGM Resorts International Price Performance

Shares of MGM stock opened at $28.86 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. MGM Resorts International has a 12-month low of $27.93 and a 12-month high of $51.59. The firm has a fifty day moving average of $36.85 and a 200-day moving average of $40.93. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. On average, equities research analysts forecast that MGM Resorts International will post 1.89 earnings per share for the current year.

MGM Resorts International News Roundup

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

• Positive Sentiment: A securities law firm said it is investigating Barry Diller’s reported $48.30-per-share bid for MGM and encouraged shareholders to contact the firm. A credible takeover offer at a substantial premium could support the stock, although the investigation adds uncertainty. MGM Deal Notice article
• Positive Sentiment: MGM is promoting expanded fan, culinary, fashion and art experiences at Bellagio, ARIA, The Cosmopolitan and Park MGM during the November 19–21 Formula 1 Las Vegas Grand Prix. The event could help drive visitation, resort spending and brand exposure. MGM Formula 1 experiences article
• Positive Sentiment: Despite recent target reductions, JPMorgan maintained an Overweight rating at $42, while Truist maintained a Buy rating at $45. Both targets imply meaningful potential upside based on the provided reference price.
• Neutral Sentiment: The analyst target cuts may reflect more cautious assumptions rather than a uniformly bearish outlook: JPMorgan reduced its target from $53 to $42, Truist from $55 to $45, and Stifel from $49 to $40. Stifel also downgraded its stance to Hold. Stifel MGM price target article
• Negative Sentiment: Zacks expects MGM’s third-quarter earnings to decline and says the company lacks the conditions typically associated with a likely earnings beat. That raises near-term risk ahead of the upcoming results. MGM Q3 earnings preview

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.