Goldentree Asset Management LP Has $144.02 Million Stock Holdings in MGM Resorts International $MGM

Goldentree Asset Management LP lessened its stake in MGM Resorts International (NYSE:MGM) by 23.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,155,183 shares of the company’s stock after selling 1,246,909 shares during the period. MGM Resorts International makes up about 11.9% of Goldentree Asset Management LP’s holdings, making the stock its 3rd biggest holding. Goldentree Asset Management LP’s holdings in MGM Resorts International were worth $144,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in MGM. AQR Capital Management LLC lifted its holdings in shares of MGM Resorts International by 202.5% during the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after acquiring an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after acquiring an additional 3,429,946 shares during the last quarter. Samlyn Capital LLC bought a new position in MGM Resorts International in the third quarter valued at $62,787,000. Norges Bank purchased a new stake in MGM Resorts International during the second quarter valued at about $60,570,000. Finally, Twin Tree Management LP raised its position in MGM Resorts International by 101.1% during the third quarter. Twin Tree Management LP now owns 5,066 shares of the company’s stock valued at $176,000 after purchasing an additional 474,012 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Down 1.5%

MGM opened at $36.33 on Thursday. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $40.16. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. The business’s 50-day moving average price is $35.37 and its 200-day moving average price is $34.84. The company has a market cap of $9.29 billion, a P/E ratio of 48.43 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.96. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the prior year, the business posted $0.45 EPS. On average, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and issued a $34.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 11th. Wells Fargo & Company raised their price objective on MGM Resorts International from $29.00 to $31.00 and gave the company an “underweight” rating in a report on Friday, January 16th. Capital One Financial cut their target price on MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of MGM Resorts International in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.94.

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.