MGM Resorts International (MGM) : Concourse Capital Management scooped up 20,461 additional shares in MGM Resorts International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 310,259 shares of MGM Resorts International which is valued at $7,377,959.MGM Resorts International makes up approximately 4.50% of Concourse Capital Management’s portfolio.
Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in MGM in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 24,884 shares of MGM Resorts International which is valued at $591,742. MGM Resorts International makes up approx 0.01% of Oregon Public Employees Retirement Fund’s portfolio.Cambiar Investors reduced its stake in MGM by selling 578,842 shares or 13.03% in the most recent quarter. The Hedge Fund company now holds 3,862,175 shares of MGM which is valued at $91,997,009. MGM Resorts International makes up approx 1.26% of Cambiar Investors’s portfolio.Msi Financial Services Inc reduced its stake in MGM by selling 232 shares or 4.29% in the most recent quarter. The Hedge Fund company now holds 5,175 shares of MGM which is valued at $123,269.Daiwa Securities Group boosted its stake in MGM in the latest quarter, The investment management firm added 4,450 additional shares and now holds a total of 15,350 shares of MGM Resorts International which is valued at $365,637.
MGM Resorts International opened for trading at $24.59 and hit $24.73 on the upside on Monday, eventually ending the session at $24.64, with a gain of 0.78% or 0.19 points. The heightened volatility saw the trading volume jump to 37,86,942 shares. Company has a market cap of $13,925 M.
On the company’s financial health, MGM Resorts International reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $2269.50 million for the quarter, compared to analysts expectations of $2330.39 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on MGM Resorts International. Company shares were Reiterated by Telsey Advisory Group on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 29 from a previous price target of $27 .Company shares were Reiterated by Stifel on Jun 9, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .Company shares were Reiterated by Telsey Advisory Group on May 6, 2016 to “Outperform”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .
MGM Resorts International is a holding company. Through its wholly owned subsidiaries the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations including hotel food and beverage entertainment and other non-gaming amenities. Its casino operations feature a variety of table games and race and sports book wagering. It operates over 15 wholly owned resorts in the United States. The MGM China segments operations consist of the MGM Macau resort and casino (MGM Macau) and the development of a gaming resort in Cotai Macau. It owns and operates two resorts in Mississippi which includes Beau Rivage in Biloxi and Gold Strike Tunica. It also owns Shadow Creek Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier Mississippi.