Olympiad Research LP Invests $497,000 in MGM Resorts International (NYSE:MGM)

Olympiad Research LP bought a new position in shares of MGM Resorts International (NYSE:MGM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,711 shares of the company’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGM. International Assets Investment Management LLC purchased a new position in MGM Resorts International during the second quarter worth about $28,000. Eastern Bank bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of MGM Resorts International in the 2nd quarter worth $49,000. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is owned by insiders.

MGM Resorts International Stock Up 0.2 %

Shares of MGM opened at $37.50 on Thursday. The firm has a market capitalization of $11.17 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.60 and a beta of 2.23. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. 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 has a fifty day moving average price of $38.35 and a 200-day moving average price of $40.04.

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). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the company earned $0.64 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley raised their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Truist Financial decreased their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $53.15.

MGM Resorts International Company 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.