Deltec Asset Management LLC Takes $586,000 Position in MGM Resorts International (NYSE:MGM)

Deltec Asset Management LLC purchased a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,000 shares of the company's stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds have also modified their holdings of MGM. Wealth Enhancement Advisory Services LLC lifted its position in shares of MGM Resorts International by 6.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,989 shares of the company's stock worth $1,274,000 after buying an additional 1,753 shares during the last quarter. Norden Group LLC acquired a new stake in shares of MGM Resorts International in the first quarter worth about $462,000. Van ECK Associates Corp lifted its position in shares of MGM Resorts International by 3.5% in the first quarter. Van ECK Associates Corp now owns 52,493 shares of the company's stock worth $2,478,000 after buying an additional 1,795 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of MGM Resorts International by 7.5% in the first quarter. Private Advisor Group LLC now owns 26,942 shares of the company's stock worth $1,272,000 after buying an additional 1,877 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MGM Resorts International by 40.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,099 shares of the company's stock worth $1,666,000 after buying an additional 10,886 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGM. Susquehanna boosted their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a research report on Thursday, August 1st. Macquarie cut their price objective on 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. Morgan Stanley boosted their price objective on 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. Truist Financial cut their price objective 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. Finally, BTIG Research assumed coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They set a "buy" rating and a $52.00 price objective for the company. Four 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 currently has an average rating of "Moderate Buy" and a consensus price target of $54.08.

MGM Resorts International Trading Down 0.3 %

MGM traded down $0.14 during mid-day trading on Wednesday, reaching $41.85. The stock had a trading volume of 1,273,743 shares, compared to its average volume of 4,036,560. The stock has a market capitalization of $12.71 billion, a P/E ratio of 16.15, a P/E/G ratio of 0.97 and a beta of 2.23. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The firm's fifty day simple moving average is $38.46 and its two-hundred day simple moving average is $40.23.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, equities analysts predict that MGM Resorts International will post 2.54 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $34.00 per share, with a total value of $340,000.00. Following the purchase, the chief financial officer now owns 38,299 shares of the company's stock, valued at $1,302,166. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now owns 38,299 shares in the company, valued at approximately $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is owned by company insiders.

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.