MGM Resorts International (MGM) : Silver Capital Management added new position in MGM Resorts International during the most recent quarter end. The investment management firm now holds 35,675 shares of MGM Resorts International which is valued at $759,878 , the company said in a statement filed on Apr 25, 2016 with the SEC.MGM Resorts International makes up approximately 4.04% of Silver Capital Management’s portfolio.
MGM Resorts International opened for trading at $21.57 and hit $21.89 on the upside on Monday, eventually ending the session at $21.67, with a gain of 1.74% or 0.37 points. The heightened volatility saw the trading volume jump to 41,47,162 shares. Company has a market cap of $12,241 M.
Other Hedge Funds, Including , Reilly Financial Advisors boosted its stake in MGM in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 2,800 shares of MGM Resorts International which is valued at $62,076. MGM Resorts International makes up approx 0.01% of Reilly Financial Advisors’s portfolio.Horizon Kinetics reduced its stake in MGM by selling 10,550 shares or 1.73% in the most recent quarter. The Hedge Fund company now holds 598,760 shares of MGM which is valued at $13,645,740. MGM Resorts International makes up approx 0.36% of Horizon Kinetics’s portfolio.Santa Fe Partners reduced its stake in MGM by selling 70,121 shares or 37.3% in the most recent quarter. The Hedge Fund company now holds 117,882 shares of MGM which is valued at $2,686,531. MGM Resorts International makes up approx 0.44% of Santa Fe Partners’s portfolio.
On the company’s financial health, MGM Resorts International reported $-0.03 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $0.09. The company had revenue of $2191.90 million for the quarter, compared to analysts expectations of $2252.58 million. The company’s revenue was down -8.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.66 EPS.
Many Wall Street Analysts have commented on MGM Resorts International. 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.