Aigen Investment Management LP Acquires New Holdings in MGM Resorts International (NYSE:MGM)

Aigen Investment Management LP bought a new stake in MGM Resorts International (NYSE:MGM) in the third quarter, Holdings Channel reports. The fund bought 118,681 shares of the company’s stock, valued at approximately $4,639,000. MGM Resorts International makes up approximately 0.9% of Aigen Investment Management LP’s portfolio, making the stock its 6th biggest position.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP boosted its holdings in shares of MGM Resorts International by 174.8% in the second 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. Maverick Capital Ltd. bought a new position in MGM Resorts International during the 2nd quarter valued at $1,211,000. Texas Permanent School Fund Corp increased its position in shares of MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after purchasing an additional 245 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of MGM Resorts International in the 2nd quarter worth $3,314,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of MGM Resorts International by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 429,611 shares of the company’s stock valued at $19,083,000 after buying an additional 13,292 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the 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 completion of the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM traded down $0.43 during mid-day trading on Tuesday, hitting $36.29. 446,562 shares of the company’s stock traded hands, compared to its average volume of 4,096,682. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 2.62 and a beta of 2.23. The firm has a 50 day moving average of $38.32 and a two-hundred day moving average of $39.90. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last announced 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 company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s 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. On average, equities analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Susquehanna upped their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Wells Fargo & Company decreased their target price 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. Macquarie dropped their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Truist Financial dropped their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus target price of $53.15.

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.