Engine Capital Management LP Has $3.70 Million Holdings in MGM Resorts International $MGM

Engine Capital Management LP lessened its position in shares of MGM Resorts International (NYSE:MGM) by 33.3% in the first quarter, Holdings Channel.com reports. The firm owned 100,000 shares of the company’s stock after selling 50,000 shares during the period. MGM Resorts International makes up about 0.4% of Engine Capital Management LP’s investment portfolio, making the stock its 21st largest position. Engine Capital Management LP’s holdings in MGM Resorts International were worth $3,701,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Davis Selected Advisers boosted its position in shares of MGM Resorts International by 12.0% during the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after buying an additional 2,866,750 shares during the period. Vanguard Group Inc. raised its position in 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 buying an additional 205,127 shares during the last quarter. AQR Capital Management LLC lifted its stake in 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 acquiring an additional 5,654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after acquiring an additional 3,429,946 shares in the last quarter. Finally, State Street Corp boosted its position in MGM Resorts International by 0.4% during the 4th quarter. State Street Corp now owns 7,517,622 shares of the company’s stock worth $274,318,000 after acquiring an additional 30,962 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction on Friday, May 22nd. The shares were 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 at this link. Company insiders own 3.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MGM. JPMorgan Chase & Co. lifted their price objective on shares of MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, June 12th. UBS Group set a $48.00 target price on shares of MGM Resorts International in a report on Thursday, July 2nd. Citigroup raised their target price on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. 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 research note on Monday, April 27th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Hold” and a consensus target price of $52.31.

MGM Resorts International Stock Up 1.7%

NYSE:MGM opened at $46.33 on Tuesday. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 64.34 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. The stock’s 50 day moving average price is $45.79 and its two-hundred day moving average price is $39.71.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the company posted $0.69 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 1.98 earnings per share 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.