Caerus Investment Advisors LLC Acquires New Holdings in MGM Resorts International $MGM

Caerus Investment Advisors LLC bought a new stake in MGM Resorts International (NYSE:MGM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,107 shares of the company’s stock, valued at approximately $558,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its stake in shares of MGM Resorts International by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock valued at $1,378,000 after acquiring an additional 328 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in MGM Resorts International by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock worth $2,218,000 after acquiring an additional 397 shares during the last quarter. NewEdge Advisors LLC increased its holdings in MGM Resorts International by 12.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after purchasing an additional 421 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in MGM Resorts International by 22.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,432 shares of the company’s stock worth $84,000 after purchasing an additional 446 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in MGM Resorts International by 7.9% in the third quarter. Asset Management One Co. Ltd. now owns 7,387 shares of the company’s stock valued at $256,000 after purchasing an additional 543 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the transaction, the director owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MGM shares. Susquehanna reduced their price target on MGM Resorts International from $46.00 to $45.00 and set a “positive” rating on the stock in a report on Friday, February 6th. The Goldman Sachs Group reiterated a “sell” rating and issued a $33.00 price objective on shares of MGM Resorts International in a report on Monday, December 15th. Wells Fargo & Company lifted their target price on shares of MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Berenberg Bank restated a “buy” rating on shares of MGM Resorts International in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, MGM Resorts International presently has an average rating of “Hold” and a consensus price target of $41.94.

MGM Resorts International Stock Up 2.6%

Shares of MGM opened at $36.90 on Wednesday. The stock’s 50-day moving average price is $35.33 and its two-hundred day moving average price is $34.83. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $40.16. The company has a market capitalization of $9.44 billion, a PE ratio of 49.20 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91.

MGM Resorts International (NYSE:MGM) last issued its quarterly 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. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.21 EPS 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.