Aigen Investment Management LP Invests $4.64 Million in MGM Resorts International (NYSE:MGM)

Aigen Investment Management LP acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 118,681 shares of the company’s stock, valued at approximately $4,639,000. MGM Resorts International comprises approximately 0.9% of Aigen Investment Management LP’s portfolio, making the stock its 6th largest holding.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the second quarter worth $28,000. EverSource Wealth Advisors LLC increased its holdings in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. Eastern Bank purchased a new position in MGM Resorts International in the third quarter valued at about $35,000. UMB Bank n.a. lifted its stake in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of MGM Resorts International in the second quarter worth about $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded down $0.43 during mid-day trading on Tuesday, hitting $36.29. The company had a trading volume of 446,562 shares, compared to its average volume of 4,096,682. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.62 and a beta of 2.23. The firm’s 50 day simple moving average is $38.32 and its two-hundred day simple moving average is $39.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. 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 posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company 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 quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, equities research analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MGM shares. Barclays cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Macquarie dropped their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company cut their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note 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.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target 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.