67,367 Shares in MGM Resorts International $MGM Acquired by Delta Global Management LP

Delta Global Management LP purchased a new stake in MGM Resorts International (NYSE:MGM) during the first quarter, HoldingsChannel reports. The firm purchased 67,367 shares of the company’s stock, valued at approximately $2,493,000.

Other hedge funds have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in MGM Resorts International during the second quarter worth $25,000. Global Retirement Partners LLC increased its holdings in shares of MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 281 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the first quarter valued at about $30,000. Elyxium Wealth LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at about $42,000. Finally, City Holding Co. acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. KeyCorp raised shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 target price for the company in a report on Monday, April 27th. Mizuho lowered their price target on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Jefferies Financial Group restated a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Weiss Ratings raised MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Finally, Wells Fargo & Company raised MGM Resorts International from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $33.00 to $48.30 in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.31.

Insider Buying and Selling

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of MGM Resorts International stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.38% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

NYSE MGM opened at $45.61 on Friday. The firm has a 50-day moving average price of $45.61 and a two-hundred day moving average price of $39.61. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The company has a market capitalization of $11.67 billion, a P/E ratio of 63.35 and a beta of 1.29. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. Analysts anticipate that MGM Resorts International will post 1.98 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.