Foundations Investment Advisors LLC Acquires Shares of 11,867 MGM Resorts International $MGM

Foundations Investment Advisors LLC acquired a new stake in MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,867 shares of the company’s stock, valued at approximately $433,000.

A number of other institutional investors also recently bought and sold shares of the business. Davis Selected Advisers increased its stake in MGM Resorts International by 12.0% in the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after purchasing an additional 2,866,750 shares during the period. Vanguard Group Inc. increased its stake in MGM Resorts International by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock valued at $867,805,000 after purchasing an additional 205,127 shares during the period. AQR Capital Management LLC increased its stake in MGM Resorts International by 202.5% in the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after purchasing an additional 3,429,946 shares during the period. Finally, Invesco Ltd. increased its stake in MGM Resorts International by 3.4% in the third quarter. Invesco Ltd. now owns 5,940,465 shares of the company’s stock valued at $205,897,000 after purchasing an additional 194,114 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on MGM shares. Morgan Stanley restated an “underweight” rating on shares of MGM Resorts International in a research note on Monday. Berenberg Bank restated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Susquehanna boosted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “positive” rating in a research note on Monday. Citigroup dropped their price target on shares of MGM Resorts International from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their price target on shares of MGM Resorts International from $34.00 to $38.00 and gave the stock a “sell” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.12.

Insider Transactions at MGM Resorts International

In related news, major shareholder Iac Inc. acquired 550,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $37.30 per share, with a total value of $20,515,000.00. Following the completion of the acquisition, the insider owned 66,372,350 shares in the company, valued at approximately $2,475,688,655. This represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister sold 37,500 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the sale, the director directly owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.38% of the company’s stock.

MGM Resorts International News Summary

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Deutsche Bank raised its price target on MGM Resorts International to $55 and reiterated a buy rating, signaling more upside if the deal process or fundamentals improve.
• Positive Sentiment: Industry coverage highlighted improving gaming trends, including strong online betting demand and Macau revenue, which could support MGM’s business even if the buyout does not proceed. Article: 4 Gaming Stocks Worth Watching Despite Industry Headwinds
• Positive Sentiment: BetMGM announced a new sweepstakes partnership with Marriott Bonvoy, adding another marketing push for its sports betting and iGaming platform. Article: BetMGM and Marriott Bonvoy Launch World’s Game Sweepstakes
• Neutral Sentiment: Johnson Fistel launched an investigation into whether MGM’s board breached fiduciary duties in connection with the potential go-private deal, which adds uncertainty but does not yet change the deal outcome. Article: Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches

MGM Resorts International Trading Down 4.7%

Shares of MGM Resorts International stock opened at $48.29 on Wednesday. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The company’s 50-day simple moving average is $38.28 and its 200-day simple moving average is $36.39. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 67.08 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that MGM Resorts International will post 1.99 earnings per share for the current year.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.