Aljian Capital Management LLC Invests $326,000 in MGM Resorts International (NYSE:MGM)

Aljian Capital Management LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,342 shares of the company’s stock, valued at approximately $326,000.

A number of other large investors have also added to or reduced their stakes in the business. Boston Partners increased its holdings in shares of MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares during the last quarter. Bamco Inc. NY grew its stake in MGM Resorts International by 3.6% in the 1st quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock valued at $99,191,000 after buying an additional 73,515 shares during the last quarter. Empower Advisory Group LLC raised its holdings in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the period. Marshall Wace LLP lifted its position in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Finally, Key Colony Management LLC boosted its holdings in shares of MGM Resorts International by 11.1% during the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after acquiring an additional 88,000 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 0.6 %

Shares of MGM opened at $37.28 on Monday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The firm has a market cap of $11.10 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.66 and a beta of 2.23. The business’s fifty day moving average is $38.44 and its 200-day moving average is $39.82.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. Equities analysts anticipate that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MGM shares. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Morgan Stanley boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Truist Financial lowered their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, Stifel Nicolaus raised their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Profile

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.