Winning Points Advisors LLC Takes Position in MGM Resorts International $MGM

Winning Points Advisors LLC acquired a new stake in MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,250 shares of the company’s stock, valued at approximately $848,000. MGM Resorts International makes up 0.8% of Winning Points Advisors LLC’s investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Davis Selected Advisers raised its holdings in shares of MGM Resorts International by 12.0% in the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after purchasing 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 4th 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 in the last quarter. AQR Capital Management LLC raised its holdings in shares of MGM Resorts International by 202.5% in the 3rd 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in MGM Resorts International by 81.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after acquiring an additional 3,429,946 shares in the last quarter. Finally, Invesco Ltd. raised its stake in MGM Resorts International by 3.4% during the 3rd quarter. Invesco Ltd. now owns 5,940,465 shares of the company’s stock worth $205,897,000 after acquiring an additional 194,114 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Truist Financial upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and lifted their price target for the stock from $42.00 to $55.00 in a research note on Wednesday, May 27th. Wells Fargo & Company lifted their price target on shares of MGM Resorts International from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Susquehanna lifted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “positive” rating in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. upgraded shares of MGM Resorts International from a “neutral” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.76.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. bought 550,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were acquired at an average price of $37.30 per share, with a total value of $20,515,000.00. Following the completion of the acquisition, the insider directly owned 66,372,350 shares in the company, valued at approximately $2,475,688,655. The trade was a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The disclosure for this sale is available in the SEC filing. Insiders own 3.38% of the company’s stock.

MGM Resorts International Trading Up 0.7%

NYSE MGM opened at $47.22 on Friday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. The firm has a market cap of $12.08 billion, a PE ratio of 65.58 and a beta of 1.31. MGM Resorts International has a one year low of $29.18 and a one year high of $51.59. The firm’s fifty day moving average is $40.03 and its two-hundred day moving average is $37.27.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Analysts expect that MGM Resorts International will post 1.95 earnings per share for the current year.

About MGM Resorts International

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.