Marathon Trading Investment Management LLC Invests $274,000 in MGM Resorts International (NYSE:MGM)

Marathon Trading Investment Management LLC acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,000 shares of the company’s stock, valued at approximately $274,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Goldentree Asset Management LP bought a new position in MGM Resorts International in the first quarter valued at approximately $35,726,000. Marshall Wace LLP lifted its position 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 valued at $49,330,000 after acquiring an additional 706,159 shares in the last quarter. Boston Partners lifted its position in MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares in the last quarter. LSV Asset Management acquired a new position in MGM Resorts International in the 2nd quarter worth $21,149,000. Finally, Shellback Capital LP increased its holdings in MGM Resorts International by 433.3% during the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock worth $17,776,000 after purchasing an additional 325,000 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MGM shares. Barclays reduced their price objective on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Susquehanna lifted their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Macquarie reduced their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, 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 note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.15.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $37.28 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average price is $38.44 and its two-hundred day moving average price is $39.82. The company has a market cap of $11.10 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.66 and a beta of 2.23. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.13% of the company’s stock.

About MGM Resorts International

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.