32,375 Shares in MGM Resorts International $MGM Acquired by Twin Tree Management LP

Twin Tree Management LP bought a new position in shares of MGM Resorts International (NYSE:MGM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,375 shares of the company’s stock, valued at approximately $1,548,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Davis Asset Management L.P. bought a new stake in MGM Resorts International during the 2nd quarter valued at $1,504,000. Bank of Nova Scotia bought a new position in shares of MGM Resorts International in the 2nd quarter worth $507,000. Elevation Point Wealth Partners LLC bought a new position in shares of MGM Resorts International in the 2nd quarter worth $491,000. Commerce Bank purchased a new stake in shares of MGM Resorts International during the 2nd quarter worth $1,346,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of MGM Resorts International during the 2nd quarter worth $1,322,000. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MGM. KeyCorp upgraded MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 target price on the stock in a research note on Monday, April 27th. Truist Financial raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and increased their price target for the company from $42.00 to $55.00 in a research report on Wednesday, May 27th. Mizuho lowered their price target on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their price objective on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

MGM Resorts International Trading Up 1.3%

Shares of MGM Resorts International stock opened at $43.72 on Friday. The stock has a market cap of $11.00 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31. The firm has a fifty day moving average price of $45.96 and a 200 day moving average price of $41.02. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30.

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

MGM Resorts International Company Profile

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.