MGM Resorts International (MGM) : Nwi Management Lp scooped up 400,000 additional shares in MGM Resorts International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,525,000 shares of MGM Resorts International which is valued at $33 Million.MGM Resorts International makes up approximately 2.79% of Nwi Management Lp’s portfolio.
Other Hedge Funds, Including , Harris Associates L P added MGM to its portfolio by purchasing 682,000 company shares during the most recent quarter which is valued at $14.8 Million. MGM Resorts International makes up approx 0.03% of Harris Associates L P’s portfolio.Blackrock Advisors boosted its stake in MGM in the latest quarter, The investment management firm added 14,918 additional shares and now holds a total of 449,681 shares of MGM Resorts International which is valued at $9.7 Million. MGM Resorts International makes up approx 0.01% of Blackrock Advisors’s portfolio.Blackrock Fund Advisors reduced its stake in MGM by selling 141,519 shares or 3.26% in the most recent quarter. The Hedge Fund company now holds 4,206,134 shares of MGM which is valued at $91 Million. MGM Resorts International makes up approx 0.02% of Blackrock Fund Advisors’s portfolio.Schwab Charles Investment Management Inc boosted its stake in MGM in the latest quarter, The investment management firm added 24,225 additional shares and now holds a total of 689,518 shares of MGM Resorts International which is valued at $15.2 Million. MGM Resorts International makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio.
MGM Resorts International opened for trading at $21.51 and hit $21.98 on the upside on Friday, eventually ending the session at $21.76, with a gain of 1.16% or 0.25 points. The heightened volatility saw the trading volume jump to 43,98,304 shares. Company has a market cap of $12,298 M.
On the company’s financial health, MGM Resorts International reported $0.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.11. The company had revenue of $2210.00 million for the quarter, compared to analysts expectations of $2280.53 million. The company’s revenue was down -5.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.
Many Wall Street Analysts have commented on MGM Resorts International. 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 was Resumed by Morgan Stanley to “Overweight” on May 6, 2016. Company shares were Reiterated by UBS on Mar 7, 2016 to “Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $27 .
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.