Campbell & CO Investment Adviser LLC Buys New Shares in MGM Resorts International $MGM

Campbell & CO Investment Adviser LLC purchased a new position in MGM Resorts International (NYSE:MGM) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 44,195 shares of the company’s stock, valued at approximately $1,520,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ballentine Partners LLC increased its holdings in shares of MGM Resorts International by 32.3% in the first quarter. Ballentine Partners LLC now owns 8,667 shares of the company’s stock worth $257,000 after buying an additional 2,114 shares during the period. New York State Common Retirement Fund grew its position in MGM Resorts International by 4.4% during the 1st quarter. New York State Common Retirement Fund now owns 165,061 shares of the company’s stock worth $4,892,000 after acquiring an additional 6,900 shares during the last quarter. CWM LLC grew its position in MGM Resorts International by 48.0% during the 1st quarter. CWM LLC now owns 56,131 shares of the company’s stock worth $1,664,000 after acquiring an additional 18,209 shares during the last quarter. Edgestream Partners L.P. purchased a new position in MGM Resorts International in the 1st quarter worth approximately $344,000. Finally, Apollon Wealth Management LLC lifted its position in MGM Resorts International by 19.7% in the first quarter. Apollon Wealth Management LLC now owns 10,092 shares of the company’s stock valued at $299,000 after purchasing an additional 1,660 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the sale, the director owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. The trade was a 4.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the sale, the insider directly owned 31,521 shares in the company, valued at $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.06% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

MGM stock opened at $32.86 on Wednesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $41.32. The firm has a 50-day moving average of $33.74 and a 200 day moving average of $34.55. The company has a market cap of $8.99 billion, a P/E ratio of 205.34, a PEG ratio of 1.40 and a beta of 1.66.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a return on equity of 16.95% and a net margin of 0.40%.The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.24 billion. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Analysts Set New Price Targets

MGM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. Morgan Stanley raised their price target on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $31.00 price objective on shares of MGM Resorts International in a research note on Thursday, October 30th. Zacks Research lowered shares of MGM Resorts International from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Truist Financial reduced their price target on MGM Resorts International from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.58.

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.