MGM Resorts International $MGM Shares Sold by LSV Asset Management

LSV Asset Management lowered its stake in MGM Resorts International (NYSE:MGM) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,629,800 shares of the company’s stock after selling 154,000 shares during the quarter. LSV Asset Management’s holdings in MGM Resorts International were worth $95,961,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MGM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MGM Resorts International by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after acquiring an additional 951 shares during the period. NewEdge Advisors LLC grew its stake in MGM Resorts International by 12.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after acquiring an additional 421 shares during the period. Woodline Partners LP grew its stake in MGM Resorts International by 39.1% in the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock valued at $560,000 after acquiring an additional 5,312 shares during the period. EverSource Wealth Advisors LLC grew its stake in MGM Resorts International by 57.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock valued at $112,000 after acquiring an additional 1,182 shares during the period. Finally, Jump Financial LLC boosted its stake in MGM Resorts International by 221.9% during the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock worth $921,000 after purchasing an additional 18,463 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

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

MGM Resorts International Stock Up 2.1%

NYSE MGM opened at $38.44 on Friday. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $40.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The business’s fifty day simple moving average is $37.55 and its 200-day simple moving average is $35.93. The firm has a market cap of $9.84 billion, a PE ratio of 53.39 and a beta of 1.28.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that MGM Resorts International will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MGM shares. Capital One Financial lifted their target price on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Berenberg Bank reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. The Goldman Sachs Group lifted their target price on shares of MGM Resorts International from $34.00 to $38.00 and gave the stock a “sell” rating in a research note on Thursday, April 30th. Barclays lifted their target price on shares of MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of MGM Resorts International from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.12.

MGM Resorts International 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.