Aigen Investment Management LP Acquires New Position in MGM Resorts International (NYSE:MGM)

Aigen Investment Management LP purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 118,681 shares of the company's stock, valued at approximately $4,639,000. MGM Resorts International makes up 0.9% of Aigen Investment Management LP's holdings, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of MGM Resorts International by 1.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 455,672 shares of the company's stock worth $17,812,000 after acquiring an additional 7,917 shares during the last quarter. Entropy Technologies LP raised its stake in shares of MGM Resorts International by 156.9% in the third quarter. Entropy Technologies LP now owns 55,311 shares of the company's stock worth $2,162,000 after acquiring an additional 33,777 shares during the last quarter. Apollon Wealth Management LLC raised its stake in shares of MGM Resorts International by 6.6% in the third quarter. Apollon Wealth Management LLC now owns 10,997 shares of the company's stock worth $430,000 after acquiring an additional 681 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of MGM Resorts International by 52.7% in the third quarter. Venturi Wealth Management LLC now owns 3,754 shares of the company's stock worth $147,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Consolidated Investment Group LLC raised its stake in shares of MGM Resorts International by 7.7% in the third quarter. Consolidated Investment Group LLC now owns 213,073 shares of the company's stock worth $8,329,000 after acquiring an additional 15,300 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

NYSE MGM traded up $0.03 during trading on Tuesday, hitting $36.75. 6,173,285 shares of the company's stock traded hands, compared to its average volume of 4,123,727. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.62 and a beta of 2.23. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The business has a 50 day moving average of $38.32 and a 200-day moving average of $39.90.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly 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 firm had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGM. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. 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 report on Wednesday, October 23rd. Barclays reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Stifel Nicolaus increased 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. 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 report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.15.

Insider Buying and Selling at MGM Resorts International

In other 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 transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.