Latest news with #MGMResorts
Yahoo
a day ago
- Business
- Yahoo
Market Begins to Favor MGM Resorts International (MGM) Due to Continued Strong Performance
Longleaf Partners, managed by Southeastern Asset Management, released its 'Partners Fund' second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund returned 5.33% in the second quarter, compared to the S&P 500's 10.94% return and the Russell 1000 Value's 3.79% return. The firm's stock price performance was volatile, but its confidence in future returns grew as the quarter progressed. Since markets have recovered and portfolio holdings remain high-quality and discounted, the firm believes maintaining its current cautious stance, as reflected in the recent strong results during turbulent times, is prudent, despite not fully matching recent market highs. For more information on the fund's best picks in 2025, please check its top five holdings. In its second quarter 2025 investor letter, Longleaf Partners Fund highlighted stocks such as MGM Resorts International (NYSE:MGM). MGM Resorts International (NYSE:MGM) is a gaming and entertainment company that owns and operates casino, hotel, and entertainment resorts. The one-month return of MGM Resorts International (NYSE:MGM) was 13.44%, and its shares lost 7.50% of their value over the last 52 weeks. On July 23, 2025, MGM Resorts International (NYSE:MGM) stock closed at $38.33 per share, with a market capitalization of $10.431 billion. Longleaf Partners Fund stated the following regarding MGM Resorts International (NYSE:MGM) in its second quarter 2025 investor letter: "MGM Resorts International (NYSE:MGM) – Hospitality and gaming company MGM Resorts was a contributor. The company continues to report strong quarterly results. This was recognized by the market this quarter, compared to other quarters when results went unappreciated. MGM is also one of our larger share repurchasers in the portfolio, with further simplification and value realization anticipated. We are confident that recession fears are overstated by the market as it overweights the anomaly of the 2008 financial crisis, especially considering MGM is in a better financial position today." Aerial shot of an entertainment resort, its buildings and gaming amenities sprawling along the seafront. MGM Resorts International (NYSE:MGM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held MGM Resorts International (NYSE:MGM) at the end of the first quarter, which was 47 in the previous quarter. While we acknowledge the potential of MGM Resorts International (NYSE:MGM) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered MGM Resorts International (NYSE:MGM) and shared the list of best S&P 500 stocks with huge upside potential. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Seaport downgrades MGM, lifts Macau casino forecasts as Las Vegas outlook weakens
-- Seaport Research downgraded MGM Resorts (NYSE:MGM) and MGM China (OTC:MCHVY) to Neutral given a slowdown in Las Vegas and limited upside after a strong run in Macau stocks, even as it raised its Macau gaming forecasts and estimates for several companies. Macau's casino industry has shown stronger-than-expected momentum in the second quarter, with Seaport now expecting gross gaming revenue (GGR) to grow 7% for the full year and over 9% in the second half. The firm said sentiment toward China has improved despite lingering macro concerns, helped by stimulus and recent gains in tourism. While Macau-focused stocks remain below pre-pandemic valuation levels, Seaport noted that investor attention will shift to the sustainability of recent growth. It raised price targets across most of its coverage, except for MGM, which it sees under pressure from slower U.S. demand and rising capital spending tied to projects in New York and Japan. In the U.S., the firm flagged softness in Las Vegas as a near-term concern, though it expects no major downturn in the broader casino market. Top picks include Melco Resorts, Las Vegas Sands (NYSE:LVS), Sands China (OTC:SCHYY) and Wynn Macau (OTC:WYNMF). Seaport remains positive on Wynn Resorts (NASDAQ:WYNN) long-term, pointing to the potential of its UAE expansion. Related articles Seaport downgrades MGM, lifts Macau casino forecasts as Las Vegas outlook weakens After soaring 149%, this stock is back in our AI's favor - & already +25% in July If Powell goes, does Fed trust go with him? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
4 days ago
- Business
- Business Insider
Seaport Global downgrades MGM Resorts (MGM) to a Hold
MGM Resorts received a Hold rating and price target from Seaport Global analyst Vitaly Umansky today. The company's shares closed today at $37.17. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Umansky is ranked #3081 out of 9841 analysts. In addition to Seaport Global, MGM Resorts also received a Hold from Bank of America Securities's Shaun Kelley in a report issued on July 15. However, on July 18, Barclays maintained a Buy rating on MGM Resorts (NYSE: MGM). MGM market cap is currently $10.12B and has a P/E ratio of 16.66. Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGM in relation to earlier this year. Most recently, in May 2025, Daniel Taylor, a Director at MGM sold 5,261.00 shares for a total of $183,766.73.
Yahoo
15-07-2025
- Entertainment
- Yahoo
‘Bruno Mars Net Worth' Trend Explained Amid Out of Debt Joke
Bruno Mars' net worth started trending online recently after the 'Grenade' hitmaker made a joke about a rumor from last year, which suggested he was in debt. The 16-time Grammy winner recently surprised fans at BLACKPINK's concert in Los Angeles on July 13, 2025. The South Korean girl group stopped by the city as part of their ongoing Deadline World Tour. But why is Bruno Mars' net worth trending, and what's the joke about him being out of debt? Here's everything you need to know. Bruno Mars shared a post on Instagram, highlighting his surprise appearance at BLACKPINK's concert at SoFi Stadium in L.A. At the concert, he joined Rosé in performing the duo's hit song 'APT.' 'Almost out of debt BehhhhhBehhhhh!!!' Mars captioned the post, adding, 'Preciate You ROSAAAAYYYYYY!!!! The caption humorously references a rumor that made the rounds last year. This rumor, which supposedly originated from a NewsNation report, alleged that the 'Die with a Smile' singer amassed a $50 million debt to MGM Resorts. An insider claimed that MGM 'basically [owned]' Bruno Mars. They added, 'He makes $90 million a year off of the deal he did with the casino, but then he has to pay back his debt… after taxes (Mars makes $1.5 million per night).' MGM Resorts subsequently debunked the rumor in a statement to multiple outlets. 'We're proud of our relationship with Bruno Mars, one of the world's most thrilling and dynamic performers,' the statement read. 'From his shows at Dolby Live at Park MGM to the new Pinky Ring lounge at Bellagio, Bruno's brand of entertainment attracts visitors from around the globe,' it added. (via Complex) It continued, 'MGM and Bruno's partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM.' MGM concluded its statement, expressing excitement at 'creating unforgettable experiences' for guests. This wasn't the first time Mars made a joke about the debt rumors. Early this year, the pop icon celebrated a major milestone in his career — reaching 150 million monthly listeners on Spotify. He took to Instagram Stories to encourage fans to continue streaming his music, jokingly adding, 'I'll be out of debt in no time.' (via US Weekly) The post 'Bruno Mars Net Worth' Trend Explained Amid Out of Debt Joke appeared first on - Movie Trailers, TV & Streaming News, and More.
New York Post
15-07-2025
- Entertainment
- New York Post
Bruno Mars jokes about gambling debt rumors at BLACKPINK concert
He's got jokes. Bruno Mars poked fun at the debunked rumors that he owed MGM Resorts $50 million in gambling debt following his surprise cameo at BLACKPINK's concert in Los Angeles on Sunday. The 'Treasure' singer, 39, shared an Instagram clip from his onstage appearance the day after and wrote, 'Almost out of debt BehhhhhBehhhhh!!! Preciate You ROSAAAAYYYYYY!!!! 🥳.' Advertisement 7 Bruno Mars at the 2022 iHeartRadio Music Awards. Getty Images for iHeartRadio Mars' video showed him running on the stage at SoFi Stadium as confetti fell. He joined Rosé to sing the K-Pop girl group's hit 'APT' on their DEADLINE World Tour. 'THE CAPTION LMAO🤣🤣🤣🤣,' one fan wrote in the comments section. Advertisement 7 Bruno Mars makes a surprise cameo at the BLACKPINK concert on July 13. brunomars/Instagram 7 Bruno Mars performs with BLACKPINK at SoFi Stadium. brunomars/Instagram 'I can't with the caption😂😂😂,' another fan said. 'ALMOST OUT OF DEBT ☠️,' a third follower added. Advertisement In March 2024, a source alleged to NewsNation that Mars owed millions in gambling debt to MGM Resorts. The Grammy Award winner has had a residency at Park MGM in Las Vegas since 2016. 7 Bruno Mars performing at the 2021 American Music Awards. via Getty Images '[MGM] basically own him,' the insider claimed. However, MGM Resorts quickly denied the allegations about Mars. Advertisement 'We're proud of our relationship with Bruno Mars, one of the world's most thrilling and dynamic performer,' the hospitality empire said in a statement to The Post. 7 Bruno Mars attends the 2022 BET Awards. Getty Images for BET 'MGM and Bruno's partnership is longstanding and rooted in mutual respect. Any speculation otherwise is completely false; he has no debt with MGM,' the statement continued. 'Together, we are excited to continue creating unforgettable experiences for our guests.' Mars previously made light of the gambling debt allegation during a major career milestone in January. After Mars 'became the first artist to reach 150 million monthly listeners in Spotify history,' he reposted the announcement and wrote, 'Keep streaming! I'll be out of debt in no time!' 7 Bruno Mars poses at the 2024 New York Comic Con at Jacob Javitz Center. Getty Images He was also asked if he wanted to speak on the gambling rumors during an interview with the Las Vegas Review-Journal last summer. 'Absolutely not! I love the lore that I am a Las Vegas lounge singer in debt to the mob. I can work with that,' Mars stated. Advertisement 7 Bruno Mars backstage at the 67th Annual Grammy Awards. CBS via Getty Images Mars' successful Vegas residency was supposed to end in August 2023 before he kept adding more shows. The NewsNation report claimed he makes $90 million ($1.5 million a night) in his current deal with MGM. Mars has upcoming performances slated at Dolby Live at Park MGM up to Sept. 6.
