MGM Resorts International (NYSE:MGM) Stake Lifted by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. raised its holdings in shares of MGM Resorts International (NYSE:MGM) by 43.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,191 shares of the company’s stock after buying an additional 19,231 shares during the period. Savoir Faire Capital Management L.P.’s holdings in MGM Resorts International were worth $2,470,000 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. Boston Partners boosted its holdings in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after buying an additional 684,676 shares in the last quarter. Bamco Inc. NY boosted its holdings in MGM Resorts International by 3.6% during the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock worth $99,191,000 after buying an additional 73,515 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares in the last quarter. Marshall Wace LLP boosted its stake in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares during the period. Finally, Key Colony Management LLC boosted its stake in MGM Resorts International by 11.1% in the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after purchasing an additional 88,000 shares during the period. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Down 0.3 %

MGM Resorts International stock opened at $37.15 on Tuesday. The company has a market capitalization of $11.06 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.66 and a beta of 2.23. The firm’s fifty day simple moving average is $38.48 and its 200-day simple moving average is $39.79. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased 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 research note on Tuesday, October 1st. Truist Financial decreased their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Morgan Stanley increased their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction 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 directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

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.