Regatta Capital Group LLC Acquires 1,025 Shares of MGM Resorts International (NYSE:MGM)

Regatta Capital Group LLC increased its holdings in MGM Resorts International (NYSE:MGM) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,617 shares of the company’s stock after acquiring an additional 1,025 shares during the period. Regatta Capital Group LLC’s holdings in MGM Resorts International were worth $645,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Empower Advisory Group LLC raised its stake in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the last quarter. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares during the last quarter. Maverick Capital Ltd. bought a new position in MGM Resorts International during the 2nd quarter valued at $1,211,000. Miracle Mile Advisors LLC purchased a new position in MGM Resorts International during the 4th quarter worth $2,010,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of MGM Resorts International by 80.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after acquiring an additional 159,522 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $32.90 on Friday. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The stock has a market capitalization of $9.79 billion, a P/E ratio of 11.75, a PEG ratio of 3.06 and a beta of 2.21. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm’s 50 day moving average is $35.15 and its 200 day moving average is $37.75.

MGM Resorts International (NYSE:MGM) last posted its quarterly 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). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $0.64 earnings per share. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that MGM Resorts International will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MGM shares. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Truist Financial dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Finally, Barclays lowered their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

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.