SG Americas Securities LLC Sells 465,522 Shares of MGM Resorts International $MGM

SG Americas Securities LLC lowered its holdings in shares of MGM Resorts International (NYSE:MGM) by 76.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 141,642 shares of the company’s stock after selling 465,522 shares during the quarter. SG Americas Securities LLC’s holdings in MGM Resorts International were worth $5,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth $25,000. Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 55.9% in 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 in the last quarter. Elyxium Wealth LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter worth $42,000. City Holding Co. bought a new position in MGM Resorts International in the 4th quarter worth $44,000. Finally, Stance Capital LLC purchased a new position in MGM Resorts International during the third quarter valued at $46,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MGM shares. JPMorgan Chase & Co. raised their price objective on MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Truist Financial raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and increased their target price for the stock from $42.00 to $55.00 in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $49.00 price target (up from $48.00) on shares of MGM Resorts International in a report on Monday, June 15th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, MGM Resorts International presently has an average rating of “Hold” and a consensus target price of $50.18.

MGM Resorts International Trading Down 0.1%

MGM stock opened at $49.15 on Monday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. MGM Resorts International has a 1-year low of $29.18 and a 1-year high of $51.59. The business has a 50 day simple moving average of $42.32 and a two-hundred day simple moving average of $38.25. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 68.27 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that MGM Resorts International will post 1.95 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.38% of the company’s stock.

About MGM Resorts International

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.