MGM Resorts International (NYSE:MGM) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its holdings in MGM Resorts International (NYSE:MGM) by 140.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,402 shares of the company’s stock after buying an additional 17,751 shares during the period. XTX Topco Ltd’s holdings in MGM Resorts International were worth $1,351,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the last quarter. UMB Bank n.a. lifted its position in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter valued at $45,000. Finally, Mendota Financial Group LLC increased its position in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Down 1.1 %

Shares of NYSE:MGM opened at $37.32 on Friday. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.64 and a beta of 2.22. The company has a 50 day moving average of $38.92 and a two-hundred day moving average of $41.22. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.59 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that MGM Resorts International will post 2.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MGM. Wells Fargo & Company decreased their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. BTIG Research started coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 target price on the stock. Susquehanna boosted their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price objective on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Finally, Macquarie dropped their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.93.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Paul J. Salem purchased 147,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the acquisition, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO William Hornbuckle acquired 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at $12,719,987.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Salem bought 147,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the purchase, the director now owns 1,702,500 shares in the company, valued at approximately $57,544,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by insiders.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.