MGM Resorts International (NYSE:MGM) Shares Purchased by Consolidated Investment Group LLC

Consolidated Investment Group LLC boosted its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,073 shares of the company's stock after purchasing an additional 15,300 shares during the quarter. MGM Resorts International accounts for approximately 1.2% of Consolidated Investment Group LLC's holdings, making the stock its 19th biggest position. Consolidated Investment Group LLC owned 0.07% of MGM Resorts International worth $8,329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP increased its holdings 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 buying an additional 706,159 shares during the period. Maverick Capital Ltd. bought a new stake in MGM Resorts International in the second quarter valued at about $1,211,000. Texas Permanent School Fund Corp raised its position in MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company's stock worth $2,667,000 after purchasing an additional 245 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in MGM Resorts International during the second quarter worth about $3,314,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of MGM Resorts International by 3.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 429,611 shares of the company's stock worth $19,083,000 after buying an additional 13,292 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International 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 owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.13% of the company's stock.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock traded down $0.17 during trading on Monday, hitting $36.52. 1,701,916 shares of the company's stock traded hands, compared to its average volume of 4,105,656. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The business has a 50-day simple moving average of $38.34 and a 200-day simple moving average of $39.94. The stock has a market capitalization of $10.87 billion, a P/E ratio of 13.10, a PEG ratio of 2.62 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its 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). The company 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 company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group raised shares of MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Truist Financial dropped 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. Susquehanna boosted their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a report on Thursday, August 1st. Mizuho reduced their price objective 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. Finally, Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and a consensus target price of $53.15.

MGM Resorts International Company 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.