Key Points
- IAC Inc. bought a total of 1,000,000 MGM shares across two transactions (550,000 on Mar. 23 at ~$37.30 and 450,000 on Mar. 24 at ~$37.13), spending roughly $37.2M and boosting its stake to about 66.8 million shares (a ~0.68% increase).
- MGM reported a strong quarter on Feb. 4 with EPS $1.60 vs. $0.64 expected and revenue of $4.61B vs. $4.42B est., while analysts hold a mixed view — average rating "Hold" with an average price target of $41.94.
MGM Resorts International (NYSE:MGM - Get Free Report) major shareholder Iac Inc. acquired 450,000 shares of the business's stock in a transaction dated Tuesday, March 24th. The stock was purchased at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the completion of the transaction, the insider directly owned 66,822,350 shares of the company's stock, valued at $2,481,113,855.50. This trade represents a 0.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Iac Inc. also recently made the following trade(s):
- On Monday, March 23rd, Iac Inc. bought 550,000 shares of MGM Resorts International stock. The shares were purchased at an average cost of $37.30 per share, for a total transaction of $20,515,000.00.
MGM Resorts International Stock Performance
NYSE MGM opened at $37.48 on Thursday. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $40.16. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20. The stock has a market capitalization of $9.59 billion, a PE ratio of 49.98 and a beta of 1.38. The company's 50 day simple moving average is $35.58 and its two-hundred day simple moving average is $34.80.
MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.96. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. During the same period in the previous year, the business earned $0.45 EPS. Analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have weighed in on MGM. JPMorgan Chase & Co. upped their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on MGM Resorts International from $43.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Wells Fargo & Company boosted their price objective on MGM Resorts International from $29.00 to $31.00 and gave the stock an "underweight" rating in a report on Friday, January 16th. Barclays set a $37.00 price objective on shares of MGM Resorts International in a research report on Friday, February 6th. Finally, Truist Financial raised their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $41.94.
Get Our Latest Stock Report on MGM Resorts International
Institutional Investors Weigh In On MGM Resorts International
A number of large investors have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new stake in MGM Resorts International during the second quarter worth about $25,000. Mendota Financial Group LLC bought a new position in shares of MGM Resorts International during the 3rd quarter valued at about $27,000. Global Retirement Partners LLC raised its holdings in shares of MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock valued at $29,000 after buying an additional 281 shares in the last quarter. Mather Group LLC. purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at about $33,000. Finally, Elyxium Wealth LLC bought a new stake in MGM Resorts International in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 68.11% of the company's stock.
Key MGM Resorts International News
Here are the key news stories impacting MGM Resorts International this week:
- Positive Sentiment: IAC Inc. (a >10% holder) purchased a total of 1,000,000 MGM shares across two disclosed transactions (550,000 on Mar. 23 at ~$37.30 and 450,000 on Mar. 24 at ~$37.13), increasing its stake to ~66.8M shares — a roughly $37.2M incremental buy. Large insider accumulation often supports the stock and reduces near-term downside risk. SEC Filing
- Positive Sentiment: MGM launched an all‑inclusive bundle at Luxor and Excalibur (hotel + resort fee + dining + entertainment + parking) aimed at spring/summer leisure demand; priced from $330+tax for two nights. This product can boost bookings, simplify pricing for consumers and lift ancillary revenue if adopted at scale. PR Newswire
- Positive Sentiment: MGM Collection with Marriott Bonvoy rolled out a “Best of Both Worlds” moments series, extending loyalty reach and cross‑selling opportunities to Marriott’s large customer base — potentially improving occupancy and higher‑value guest flows. Breaking Travel News
- Neutral Sentiment: MGM’s foundation activity supporting employee programs was reported — positive for ESG and retention but unlikely to move near‑term financials materially. Westfair
- Neutral Sentiment: Coverage notes a legislative topic (a prior bill on sports‑prediction contracts) that historically has moved sportsbook valuations; it's a background regulatory item investors should monitor but the cited piece is older and not an immediate catalyst. Covers
- Negative Sentiment: Industry commentary highlights new entrants (e.g., ZunaBet) and “next‑generation” wagering experiences that may capture segments BetMGM hasn’t fully addressed — a reminder of competitive pressure in digital gaming that could weigh on BetMGM market share and longer‑term online growth. Blockonomi
MGM Resorts International Company Profile
(
Get Free Report)
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.
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