Entropy Technologies LP Grows Position in MGM Resorts International (NYSE:MGM)

Entropy Technologies LP boosted its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 156.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,311 shares of the company's stock after purchasing an additional 33,777 shares during the quarter. Entropy Technologies LP's holdings in MGM Resorts International were worth $2,162,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter worth about $28,000. Eastern Bank bought a new position in shares of MGM Resorts International during the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock worth $41,000 after buying an additional 329 shares during the period. UMB Bank n.a. lifted its stake in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after acquiring an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in MGM Resorts International during the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGM. Truist Financial decreased their target price on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Macquarie lowered their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price target 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 dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Finally, Barclays lowered their target price on MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. 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 data from MarketBeat, MGM Resorts International currently has an average rating of "Moderate Buy" and an average target price of $53.15.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company's stock, valued at approximately $210,716,912.16. This 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 the SEC website. 2.13% of the stock is owned by insiders.

MGM Resorts International Stock Up 3.4 %

Shares of MGM traded up $1.26 during midday trading on Wednesday, hitting $38.01. 2,582,247 shares of the company's stock traded hands, compared to its average volume of 4,114,749. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.62 and a beta of 2.23. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The firm's fifty day moving average is $38.33 and its 200-day moving average is $39.87.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

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.