New Age Alpha Advisors LLC Increases Stock Position in MGM Resorts International $MGM

New Age Alpha Advisors LLC grew its stake in shares of MGM Resorts International (NYSE:MGM) by 24.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 95,668 shares of the company’s stock after buying an additional 19,025 shares during the period. New Age Alpha Advisors LLC’s holdings in MGM Resorts International were worth $3,491,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC purchased a new stake in MGM Resorts International during the 2nd quarter worth $25,000. Global Retirement Partners LLC boosted its position in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the period. Elyxium Wealth LLC purchased a new stake in MGM Resorts International during the 4th quarter worth $42,000. City Holding Co. purchased a new stake in MGM Resorts International during the 4th quarter worth $44,000. Finally, Stance Capital LLC purchased a new stake in MGM Resorts International during the 3rd quarter worth $46,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MGM shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Friday, May 1st. Weiss Ratings raised shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Barclays upped their price target on shares of MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Morgan Stanley upped their price target on shares of MGM Resorts International from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Finally, Capital One Financial upped their price target on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.12.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $38.44 on Tuesday. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $40.94. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. The firm has a market capitalization of $9.84 billion, a P/E ratio of 53.39 and a beta of 1.28. The company’s fifty day moving average price is $37.59 and its two-hundred day moving average price is $36.00.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that MGM Resorts International will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. acquired 550,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $37.30 per share, for a total transaction of $20,515,000.00. Following the acquisition, the insider directly owned 66,372,350 shares of the company’s stock, valued at $2,475,688,655. This represents a 0.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This trade represents a 0.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.38% of the company’s stock.

MGM Resorts International Company Profile

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.