Focus Partners Advisor Solutions LLC Buys Shares of 30,174 MGM Resorts International $MGM

Focus Partners Advisor Solutions LLC purchased a new stake in MGM Resorts International (NYSE:MGM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,174 shares of the company’s stock, valued at approximately $1,014,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MGM. Aster Capital Management DIFC Ltd grew its stake in shares of MGM Resorts International by 55.0% during the third quarter. Aster Capital Management DIFC Ltd now owns 10,618 shares of the company’s stock worth $368,000 after purchasing an additional 3,766 shares during the period. Waddell & Associates LLC bought a new stake in MGM Resorts International in the third quarter valued at about $286,000. TD Asset Management Inc lifted its stake in MGM Resorts International by 146.9% in the third quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock valued at $3,222,000 after buying an additional 55,300 shares during the period. Mufg Securities Americas Inc. boosted its holdings in MGM Resorts International by 20.1% during the third quarter. Mufg Securities Americas Inc. now owns 5,505 shares of the company’s stock worth $191,000 after buying an additional 921 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in MGM Resorts International by 173.9% during the third quarter. EverSource Wealth Advisors LLC now owns 8,897 shares of the company’s stock worth $308,000 after buying an additional 5,649 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MGM has been the subject of several analyst reports. Susquehanna decreased their target price on MGM Resorts International from $46.00 to $45.00 and set a “positive” rating for the company in a research report on Friday, February 6th. Truist Financial lifted their price objective on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. Citigroup boosted their price objective on shares of MGM Resorts International from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Berenberg Bank reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of MGM Resorts International in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Hold” and an average target price of $41.94.

MGM Resorts International Price Performance

Shares of MGM opened at $35.63 on Friday. The stock has a 50 day simple moving average of $35.37 and a 200 day simple moving average of $34.97. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $40.16. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23. The firm has a market capitalization of $9.12 billion, a PE ratio of 47.51 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the company posted $0.45 EPS. Sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International 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.