Liontrust Investment Partners LLP Buys New Position in MGM Resorts International $MGM

Liontrust Investment Partners LLP purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 13,381 shares of the company’s stock, valued at approximately $640,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MGM. Davis Selected Advisers lifted its stake in MGM Resorts International by 12.0% during the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after acquiring an additional 2,866,750 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of MGM Resorts International by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock valued at $867,805,000 after purchasing an additional 205,127 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of MGM Resorts International by 202.5% in the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after purchasing an additional 3,429,946 shares in the last quarter. Finally, State Street Corp lifted its position in shares of MGM Resorts International by 0.4% during the fourth quarter. State Street Corp now owns 7,517,622 shares of the company’s stock valued at $274,318,000 after purchasing an additional 30,962 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MGM. Jefferies Financial Group reaffirmed a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. The Goldman Sachs Group restated a “sell” rating and issued a $43.00 target price on shares of MGM Resorts International in a research note on Wednesday, July 15th. Barclays upped their target price on MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Truist Financial raised MGM Resorts International from a “hold” rating to a “buy” rating and increased their price target for the company from $42.00 to $55.00 in a research report on Wednesday, May 27th. Finally, HSBC upgraded MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

MGM Resorts International Trading Down 1.3%

NYSE:MGM opened at $42.39 on Friday. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $51.59. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80. The firm’s 50 day moving average is $45.53 and its 200 day moving average is $41.28. The stock has a market capitalization of $10.66 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the company earned $0.79 earnings per share. MGM Resorts International’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts expect that MGM Resorts International will post 1.96 earnings per share for the current year.

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.