UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $18.43 Million Stock Position in MGM Resorts International $MGM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in MGM Resorts International (NYSE:MGM) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 385,477 shares of the company’s stock after selling 40,569 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MGM Resorts International were worth $18,430,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in MGM Resorts International by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after purchasing an additional 951 shares during the period. NewEdge Advisors LLC lifted its stake in shares of MGM Resorts International by 12.1% in the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after buying an additional 421 shares during the period. Woodline Partners LP grew its position in MGM Resorts International by 39.1% during the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after buying an additional 5,312 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in MGM Resorts International by 57.2% during the second quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock valued at $112,000 after acquiring an additional 1,182 shares during the period. Finally, Jump Financial LLC increased its stake in MGM Resorts International by 221.9% during the second quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock valued at $921,000 after acquiring an additional 18,463 shares during the period. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Up 0.1%

Shares of NYSE:MGM opened at $41.19 on Friday. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. The company’s fifty day moving average is $44.91 and its 200-day moving average is $41.46. The company has a market capitalization of $10.36 billion, a PE ratio of 24.96, a P/E/G ratio of 2.10 and a beta of 1.28.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts predict that MGM Resorts International will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on MGM. Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a “hold” rating on shares of MGM Resorts International in a research note on Thursday, July 2nd. The Goldman Sachs Group reissued a “sell” rating and issued a $43.00 price target on shares of MGM Resorts International in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Truist Financial upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and lifted their target price for the company from $42.00 to $55.00 in a research report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.37.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.