Brooklyn Investment Group Makes New $44,000 Investment in MGM Resorts International (NYSE:MGM)

Brooklyn Investment Group acquired a new position in shares of MGM Resorts International (NYSE:MGM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,117 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares in the last quarter. FMR LLC boosted its position in MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after acquiring an additional 79,486 shares in the last quarter. Empower Advisory Group LLC boosted its position in MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares in the last quarter. Marshall Wace LLP boosted its position in MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares in the last quarter. Finally, Key Colony Management LLC boosted its position in MGM Resorts International by 11.1% during the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after acquiring an additional 88,000 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Macquarie dropped their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. JMP Securities lowered their price objective on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Truist Financial lowered 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. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.85.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM opened at $38.33 on Friday. The stock has a 50-day moving average of $38.68 and a two-hundred day moving average of $39.63. The stock has a market cap of $11.41 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.67 and a beta of 2.23. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, research analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

MGM Resorts International 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.