Tidal Investments LLC Purchases 24,111 Shares of MGM Resorts International (NYSE:MGM)

Tidal Investments LLC lifted its position in shares of MGM Resorts International (NYSE:MGM) by 269.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,050 shares of the company’s stock after purchasing an additional 24,111 shares during the period. Tidal Investments LLC’s holdings in MGM Resorts International were worth $1,292,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the third quarter worth $28,000. Eastern Bank bought a new stake in MGM Resorts International in the third quarter valued at $35,000. UMB Bank n.a. increased its position in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the period. Finally, Brooklyn Investment Group bought a new position in MGM Resorts International in the 3rd quarter worth $44,000. 68.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MGM. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays lowered their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.54.

MGM Resorts International Trading Down 4.4 %

Shares of NYSE MGM opened at $33.80 on Thursday. The firm’s 50 day moving average price is $38.16 and its 200-day moving average price is $39.31. MGM Resorts International has a 52-week low of $33.44 and a 52-week 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. The company has a market cap of $10.06 billion, a PE ratio of 12.07, a P/E/G ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate 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 revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. On average, equities research analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction 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. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.13% of the company’s stock.

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.